(TSX-V: MGW, OTCQB: MGWFF)
CALGARY, June 14, 2017 /CNW/ - Maple Leaf Green
World Inc. ("Maple Leaf" or the "Company") announces,
further to its press release dated May 24,
2017, that the Company has signed up with Paramount
Structures Inc. ("PSI") to commence construction immediately
on its cannabis cultivation facility located in Telkwa, British Columbia (the "B.C.
Facility").
The time schedule presented by PSI indicates that design,
engineering, and procurement will begin immediately for the B.C.
Facility, followed by site preparation in mid-August 2017. The estimated completion date of
the building envelope is estimated to occur in early December 2017. The Company and PSI are working in
conjunction to finalize the interior design of the B.C. Facility.
It is expected that the interior construction and the installation
of cultivation equipment and lighting will commence concurrent with
completion of the building envelope. Progress reports for the B.C.
Facility will be announced and posted on the Company's website when
it becomes available.
Health Canada has introduced
several improvements that aim to streamline the licensing of
medical cannabis producers, which includes prioritising those
applicants with built out schedule and issuing license without
prior inspection upon proof of completion of built out. As such,
the management of the Company believe that Maple Leaf will be able
to successfully obtain the Access to Cannabis for Medical
Purposes Regulations (the "ACMPR") licence around the
end of 2017 as originally planned.
"We are very pleased that we have retained two very capable and
experienced consultants; PSI and CCI, to assist us in completing
the final stages of obtaining the ACMPR license and for putting us
back on track with our time table, despite an unexpected delay in
the early part of this year," said Raymond
Lai, President & C.E.O. of Maple Leaf.
For further information regarding Maple Leaf Green World Inc.,
please visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the
cannabis industry in North
America. The Company currently operates 3 cannabis projects
in British Columbia, California,
and Nevada. With over 10 years of
extensive greenhouse management experience, it applies its
eco-agriculture knowledge and cultivation technology to produce
contaminant-free organic cannabis products. Maple Leaf's long-term
objective is to produce cannabis oil and export its products to
approved countries.
Cautionary Statement
This press release includes certain statements that may be
deemed "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Specifically, this
press release includes, but is not limited to, forward-looking
statements with respect to the streamlining of Health Canada's
ACMPR license review process, anticipated approvals of the
Company's application for a license under the ACMPR, and
construction of the B.C. Facility. Generally, forward-looking
statements can be identified by the forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "projects", "intends",
"anticipates", or "does not anticipate", or "believes", or
"variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might",
or "will" be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties,
and other factors that may cause the actual results, level of
activity, performance, or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the development and operation of the Company's projects,
risks associated with general economic conditions, adverse industry
events, marketing costs, loss of markets, future legislative and
regulatory developments involving medical cannabis, inability to
access sufficient capital from internal and external sources and/or
inability to access sufficient capital on favourable terms, the
medical cannabis industry in Canada and the jurisdictions where the Company
operates generally, income tax and regulatory matters, competition,
crop failure, currency and interest rate fluctuations, regulatory
approvals including approvals from the Health Canada of the
Company's ACMPR license application, and those factors discussed in
the sections relating to risk factors of our business filed in the
Company's required securities filings on SEDAR. Although the
Company has attempted to identify important factors that could
cause results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements will prove accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with
applicable securities laws.
Neither TSX Venture Exchange nor 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.
SOURCE Maple Leaf Green World Inc.