CALGARY, Alberta, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) is pleased to announce that further to the Company’s previously announced hemp seed cultivation license for CBD enriched hemp on December 3, 2019, the company will also be cultivating Cannabigerol (CBG) enriched hemp seeds. CBG is a newly discovered, highly sought after, non-psychoactive cannabinoid that possesses great potential in providing medical relief to ailments not found with CBD. Although more research is required, the initial evaluation of CBG for medical applications shows great promise. With over 100 cannabinoid compounds identified, CBG is the precursor to which all other cannabinoids, such as THC and CBD, are synthesized.
The Company is also pleased to announce that renovation work has already begun on the 2 existing greenhouses at its 20 acres site at Riverside County, California. The renovations entail replacing all the covers and performing a complete sterilization to ensure a clean start up. The renovations are expected to be completed in mid-February, and cultivation will begin soon after.
With the growing demand for CBG enriched hemp, the Company is engaged in supply contract negotiations with several North American and oversea buyers in addition to Lin International (LOI signed and announced on September 17, 2019). To ensure the demand can be met, the renovations will include expanding the greenhouses by an additional 1,000 sq. ft. The total growing capacity will now be increased to 7,000 sq. ft. The Company also intends to purchase 2 to 4 additional new greenhouses with state-of-the-art technology in anticipation of securing the supply contracts.
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 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 OTCQB 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.
For further information, please contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO
+1(403) 452-4552
rlai@mlgreenworld.com
Billy Bewcyk, V.P. for Business Development
+1(403)616-4877
wbewcyk@mlgreenworld.com