Maple Leaf Gets the Green Light on Its California Project
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 01/15/15 -- Maple Leaf Green World (TSX VENTURE: MGW) ("Maple Leaf" or the "Company") is pleased to announce that the non-profit Collective ("Collective") in California with which the Company previously announced a joint venture arrangement (see news releases dated October 28th and November 18th, 2014) has been properly formed and organized as required by applicable law in the State of California to supply its membership with marijuana for medical purposes. Concurrent with this development, the Collective and the Company have agreed to reorganize their joint venture by dividing it into two separate agreements, the terms of which are summarized below:
1. Lease & Property Agreement:
2. Consulting Services Agreement:
In order to facilitate the implementation of the joint venture, Maple Leaf has incorporated and organized a wholly-owned subsidiary, Golden State Green World LLC. It is anticipated that the agreements described above will be finalized and executed by the parties within the next few days. At that time, Maple Leaf will have a period of four months (the "Financing Period") to secure the necessary financing to acquire the Site and commence construction of the Facility. The Collective has committed not to deal with any other parties regarding the supply of medical marijuana until the expiration of the Financing Period.
"We are excited that our joint venture partner has been established and organized in compliance with applicable law in California and we are anxious to secure the funding we require to construct our first medical marijuana project in the United States, which is expected to provide significant cash flow for the Company in the latter part of 2015." said Maple Leaf Green World President and CEO Raymond Lai.
For further information regarding Maple Leaf Green World Inc., visit .
About Maple Leaf Green World Inc.
Maple Leaf is a Canadian company that focuses in the agricultural/environmental industry with three main areas of activity:
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 Maple Leaf that sufficient financing can be raised or that lands and permits will be available to build the Facility at an acceptable price or 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 agricultural industry (and in particular, the medical marijuana business), and status of, and ability to capitalize on, opportunities available to the Company and review 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 that may affect Maple Leaf's operations, including, but are not limited to: the impact of general economic conditions; industry conditions; available equity or debt financing; government and regulatory developments including availability of requisite licences; 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 transpire or occur, or if any of them do transpire or occur, what benefits Maple Leaf will derive therefrom.
January 15, 2014 - $0.04
Contacts:
Maple Leaf Green World Inc.
Raymond Lai
Chairman, President & CEO
+1 (403) 452-4552
+1 (403) 452-6900 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 15.01.2015 - 21:26 Uhr
Sprache: Deutsch
News-ID 364866
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Forestry
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"Maple Leaf Gets the Green Light on Its California Project"
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