CALGARY, Oct. 24, 2017 /CNW/ - Maple Leaf Green World Inc.
("Maple Leaf" or the "Company") (TSX-V: MGW,
OTCQB: MGWFF) is pleased to announce that MMP Structural
Engineering Ltd., a structural engineering firm in Calgary, Alberta with over 39 years of
experience, is acting as the Company's project manager for Maple
Leaf's cannabis cultivation facility in Telkwa, British Columbia (the "Telkwa
Facility") and has submitted the building permit application to
the Regional District of Bulkley-Nechako. If the application meets
the Regional District of Bulkley-Nechako's approval, a permit for
construction of the foundation of the Telkwa Facility will be
granted to the Company. While Maple Leaf waits for the foundation
permit, ground clearing will begin as soon as possible. Materials
for the envelope and exterior of the Telkwa Facility have arrived
at the site of Paramount Structures Inc. ("PSI") and will be
ready for the pre-fabrication process. PSI is responsible for the
exterior and envelope of the Telkwa Facility.
A Letter of Intent has also been signed with Woodmere Nursery
Ltd. ("Woodmere") to lease 30 acres of land where the Telkwa
Facility will be situated. The major terms are as follows:
- A leasing fee of $20,000 a month
or $240,000 a year beginning
October 1, 2017 for 20 years with
adjustments every 5 years based on the Consumer Price Index;
- Maple Leaf will have the option to purchase the 30 acres of
land from Woodmere after 1 year at the prevailing market price or
at a minimum of $500,000; and
- Maple Leaf will grant 500,000 share options at $0.55 to Woodmere for 2 years and the options
will vest after 1 year.
A formal leasing agreement will be prepared by Woodmere's legal
counsel in due course.
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 three cannabis
projects in British Columbia,
California, and Nevada.
With over ten 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 to export its
products to approved countries. The Company's common shares are
listed for trading on the TSX Venture Exchange under the symbol
"MGW" and on the OTCQB market under the symbol "MGWFF".
Cautionary Statements
This press release includes certain statements and
information that may be deemed "forward-looking statements"
within the meaning of applicable Canadian securities legislation.
Such forward-looking information relates to future events about
Maple Leaf's intended business plans and operations. All
information other than historical fact may constitute
forward-looking information within the meaning of applicable
Canadian securities legislation.
Generally, forward-looking information can be identified by
the forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget" or "budgeted", "scheduled",
"estimates", "projects", "intends", "proposes", "complete",
"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 information is
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
information, 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
United States of America and the jurisdictions where the
Company operates generally, income and sales tax and regulatory
matters, competition, crop failure, currency and interest rate
fluctuations, regulatory approvals including approvals from
municipal, provincial, county, state, and federal regulatory bodies
in Canada and the United States of America. Although the
Company has attempted to identify important factors that could
cause results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed, planned, or intended. Accordingly,
such list of factors are not exhaustive. Additional information on
these and other factors which could affect the Company's operations
and financial results are discussed in the sections relating to
risk factors of our business filed in the Company's required
securities filings with applicable securities commissions or other
securities regulatory authorities and which may be accessed through
the SEDAR website (www.sedar.com).
Specifically, this press release includes, but is not limited
to, forward-looking information with respect to obtaining certain
municipal and provincial approvals and anticipated approval timings
pertaining to the Telkwa Facility, the construction of the Telkwa
Facility and the timelines thereof, and completion of the Telkwa
Facility. Forward-looking information necessarily involves both
known and unknown risks and uncertainties that could cause actual
result to differ materially from those anticipated, including, but
not limited to failure to obtain the requisite approvals for the
Telkwa Facility, the leasing agreement with Woodmere, or any
combination or all of the foregoing, failure to complete the
leasing agreement with Woodmere and failure to obtain the requisite
provincial approvals, and failure to obtain any regulatory, stock
exchange, or other required approvals.
Although, the Company believes that expectations and
assumptions reflected in the forward-looking information are
reasonable, there can be no assurance that any forward-looking
information will prove accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. These forward-looking statements are
made as of the date of this press release and the Company does not
undertake to update any forward-looking information contained in
this press release or that is incorporated by reference herein,
whether as a result of new information, future events or results or
otherwise, 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.