CALGARY, Alberta, May 07, 2019 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) is pleased to announce that it intends to complete a non-brokered private placement of minimum of up to 2,000,000 common shares ("Shares") at a price of $0.13 per Share for aggregate gross proceeds of up to approximately $260,000 (the "Private Placement"). The Company intends to use the proceeds from the Private Placement for corporate development and general working capital purposes. Closing of the Private Placement is expected to occur on or before May 15, 2019 (the "Closing Date") but is at the discretion of the Company. The Company has already received $188,500 in subscription funds from 2 investors and may accept over-allotment of Shares as allowed under the policies of the Neo Stock Exchange. The Company will announce the outcome of the Private Placement after closing in a subsequent press release.
Pricing was determined by the board based on the 20% discount to the closing price for the Common Shares on the date prior to announcement of the Private Placement and in compliance with regulatory policies. All securities issued under the Private Placement will be subject to a hold period expiring four months and one day from the Closing Date.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Neo Stock Exchange.
For further information regarding the Company, 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 is in the process of construction of a marijuana facility in British Columbia. With over ten years of extensive greenhouse management experience, the Company intends to apply 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 Neo Exchange Inc. under the symbol “MGW” and on the OTCQX market under the symbol “MGWFF”.
For further information, please contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO
+1(403) 452-4552
rlai@mlgreenworld.com: www.mlgreenworld.com
Victoria Bostic
vbostic@mlgreenworld.com