CALGARY, Alberta, Sept. 17, 2019 — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) announces it has entered into a Letter of Intent (LOI) , with a Singapore based Lin International Trading PTE Ltd (“Lin International”), to supply feminized hemp seed for their expanding South East Asian hemp projects.
Lin International is in the process of obtaining hemp cultivation licenses on 500 hectare (1235 acres) of land in Lao People’s Democratic Republic and pursuing more opportunities in other South East Asia countries. They are focused on cultivating hemp for the production of medical CBD extracts.
Lin International expects to purchase a minimum of 1,500 Kilograms of feminized hemp seed, from Maple Leaf Green World, at a proposed price of $10,000(CAD) per Kilogram, in the first year. Lin International also anticipates to purchase up to 10,000 Kilograms, annually, of feminized hemp seed, as their business develops in other parts of South East Asia.
Once Maple Leaf Green World’s Hemp Seed cultivation is operational, Lin International and Maple Leaf Green World will sign a binding supply agreement to replace this LOI.
This Letter of Intent is a starting point for further negotiations and also operates as a framework under which further collaboration to exploit the hemp and CBD oil market in South East Asia between Maple Leaf Green World and Lin International can be developed. The whole Asian market is a large and untapped hemp and CBD market while the regulatory environment changes is being made in favor of developing such industry.
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.
For further information, please contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO
Garnet Paton, I.R. Manager