The Company is also obtaining the necessary funding from a group of Asian investors specifically earmarked for this project.
CALGARY, Alberta, Dec. 03, 2019 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) is pleased to announce its 100% owned California subsidiary; Golden State Green World LLC. has received a Hemp Seed Cultivation License (“The License”) from Riverside County to start breeding Hemp Seed for CBD enriched Hemp. The Biomass of the Hemp grown from these special genetic type seeds contain a much higher CBD content than the Biomass from typical industrial Hemp, thus the market price for these types of seeds are much higher than the typical industrial Hemp seeds.
With receipt of The License, the Company will start preparing its 2 existing greenhouses immediately in order to start the breeding program as soon as possible. This will be the pioneer project for the Company’s Hemp Seed Cultivation Initiative announced on August 29, 2019 and October 31, 2019 press releases. The Company is also obtaining the necessary funding from a group of Asian investors specifically earmarked for this project.
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 has cannabis projects in British Columbia and California. With over 10 years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free 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 Aequitas NEO Exchange Inc. under the symbol “MGW” and on the OTCQX market under the symbol “MGWFF.”
Forward Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning: the Proposed Transaction and the timing thereof; When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company that include, but are not limited to, the timely receipt of all required regulatory and third-party approvals, including approvals from NEO and from the shareholders of Maple Leaf. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals, including approvals from NEO and from the shareholders of Maple Leaf, not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2018 and management’s discussion and analysis (“MD&A”) thereof for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.
Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.