(TSX-V: MGW, OTCQB:MGWFF)
Jan. 16, 2017 –$0.72
CALGARY, Jan. 16, 2017 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company") is
pleased to announce that with the recent notice from Health Canada
that Maple Leaf has advanced from Security Clearance into Stage 5
Review, the Company can now start planning the renovation of its
80,000 square foot greenhouse complex in Telkwa, British Columbia in preparation for
Pre-License Inspection under the Access to Cannabis for Medical
Purposes Regulations ("ACMPR"). The "Permission to
Build" notice under the previous regulations has been
eliminated.
Section 35 of the ACMPR regulations provides that: "[T]he
Minister must, after examining the information and documents
required under section 33 [ACMPR Application Guidelines] and after
all of the security clearances required by section 34 [Security
Clearance Stage] have been granted under section 112, issue to the
applicant a producer's license." Accordingly, the Company's
current Stage 5 Review status demonstrates the Company is now in
the final stages of obtaining an ACMPR license.
The Company has also retained TheraCann International Benchmark
Corporation ("TheraCann") to assist in the final stages of
the application process. TheraCann offers a one-stop, full-service
solution for the International cannabis marketplace. From
regulatory applications, planning, facility design, cultivation,
marketing and communications, TheraCann provides cannabis-related
businesses with solutions to fit their regulatory requirements.
More information about TheraCann is available at
www.theracanncorp.com.
TheraCann is in the process of reviewing and updating the
Company's application to include additional extraction and cannabis
oil production requirements to meet current ACMPR standards. Once
this process is completed, Maple Leaf expects to begin the
renovation of its Telkwa, B.C.
facility.
For further information regarding Maple Leaf Green World Inc.,
please visit the www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf Green World Inc. is a Canadian company that focuses
on the cannabis industry in North
America. With over 10 years extensive greenhouse management
experience, it applies its eco- agriculture knowledge and
cultivation technology to produce contaminant -free organic
cannabis products . The Company is currently involved in three
cannabis projects:
- Canada – The Company has
applied for an ACMPR license for an 80,000 sq ft greenhouse complex
in B.C. in August 2014 and is now in
Stage 5 (Review) with Health Canada.
- California – The Company is in
a joint venture with a Non-Profit Co-Op to cultivate cannabis for
its members. The Company owns 20 acres of land and has 2
greenhouses in production since September 2016. The site on
which the joint venture operates has capacity for additional
greenhouses. Maple Leaf is also in the process of applying
for a cultivation license in the San
Diego area.
- Nevada – The Company is in the
process to acquire a cultivation permit for a 33,500 sq ft facility
from an existing licensee and has plans for a facility operating in
the city of Henderson, 15 miles
from Las Vegas.
Maple Leaf's long-term objective is to produce cannabis oil and
export its products to approved countries.
Neither the TSX Venture Exchange or its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain statements in this news release including (i)
statements that may contain words such as "anticipate", "could",
"expect", "seek", "may", "intend", "will", "believe", "should",
"project", "forecast", "plan" and similar expressions, including
the negatives thereof, (ii) statements that are based on current
expectations and estimates about the markets in which Maple Leaf
operates and (iii) statements of belief, intentions and
expectations about developments, results and events that will or
may occur in the future, constitute "forward-looking statements"
and are based on certain assumptions and analysis made by Maple
Leaf. There is no assurance that sufficient financing can be raised
or that permits will be available to allow the Company to carry out
its current projects on a timely basis.
Forward-looking statements in this news release include, but
are not limited to, statements with respect to future capital
expenditures, including the amount, nature and timing thereof;
other development trends within the marijuana industry and the
status of, and ability to capitalize on, opportunities available to
the Company as well as the business strategy; expansion and growth
of Maple Leaf's business and operations and other such matters.
Such forward-looking statements are subject to important risks and
uncertainties, which are difficult to predict and may affect Maple
Leaf's operations, including, but not limited to: the impact of
general economic conditions; industry conditions; the availability
of equity or debt financing; government and regulatory developments
including availability of requisite licenses; product supply and
demand; competition; and Maple Leaf's ability to attract and retain
qualified personnel. Maple Leaf's actual results, performance or
achievements could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the
forward-looking statements will occur, or if any of them do occur,
what benefits Maple Leaf will derive therefrom.
SOURCE Maple Leaf Green World Inc.