CALGARY, Alberta, Aug. 29, 2019 — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) announces the following:
Maple Leaf Green World is pleased to announce that it has retained Mr. Aaron Boh as its Chief Grower to spearhead its proposed Hemp seeds and Marijuana clones and seeds cultivation project in the 52 greenhouses facilities totaling about 300,000 sq. ft greenhouse space acquiring from Woodmere Nursery as announced in its August 26th press release.
Aaron has been a professional hockey player at a young age and been drafted by Vancouver Canucks in 1992. He has suffered many injuries and retired in 2000, because of his injuries, he has applied for a MMAR personal grow license and started using Cannabis instead of prescription pain killers to avoid all ill side effects.
Over the past 9 years, Aaron has grown for many different licensed patients, as well as for personal use. He began researching and studying different types of Marijuana genetics, and strains; learning and developing his own cross breeds of plants, and cataloguing his findings. Along with this research, Aaron tested different types of growing techniques such as: hydroponics, soil, purely organic farming, indoor commercial, green house growing, and outdoor plant cultivation; using certain growing techniques to keep the plants in the most organic, natural and chemical-free environment as possible.
Aaron’s years of growing experience and knowledge has now brought him to consulting in the industry. He helps small to large commercial operations set up and design their facilities. He creates unique growing schedules and cultivation plans; instructs them how to grow, how to yield the best product, but with the most natural approach. Aaron is very passionate about this industry, and sees only further advancement and development in the years to come.
If using the full 300,000 sq. ft greenhouse space to grow certain genetic Hemp with seeds specially for CBD oil extraction, it is estimated it can produce about 180,000 lbs of seeds from 3 harvests a year. If using the whole space for Marijuana clones, it is estimated it can produce 121 million clones from 18 harvests a year. This project will also complement the Company’s Marijuana Cultivation and Processing operation by providing propagation and cloning to the operation.
“I am delighted and excited to join Maple Leaf’s management team to provide my expertise for their proposed Hemp seeds and Marijuana clones cultivation project in their 300,000 sq. ft indoor facilities, which is probably one of the largest Hemp seeds and Marijuana clones cultivation project I ever see in Canada. The market for these genetic Hemp seeds specially for CBD oil extraction and Marijuana clones and seeds is in strong demand that the current wholesale market price for this type of Hemp seeds is between $5,000 to $10,000 a pound, and for the Marijuana clones is between $5 to $10 a clone.”Aaron Boh, Chief Grower of Maple Leaf.
Exemption from Related Party Transaction
The Company wishes to clarify that the previously announced transaction of Land, Assets and Business of Woodmere Nursery Ltd. though a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”) will be exempt from the requirements under MI 61-101 to obtain a formal valuation and minority shareholder approval pursuant to Sections 5.5(a)(b) and 5.7(1)(a)(b) of MI 61-101. Extension of Warrants Expiry Date The independent board of directors have approved the extension of May 2017 Warrants from August 31, 2019 to Sept 27, 2019. The Company is seeking approval from shareholders of changes to Warrants in its annual general and special meeting to be held on September 27, 2019. Upon approval by disinterested shareholders, Neo Stock Exchange will provide its final approval.
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