Maple Leaf Green World Inc. Announces Proposed Sale of Land in Henderson, Nevada, with the Proposed Use of Proceeds for the Acquisition of a Cannabis Cultivation License in Nevada
CALGARY, Alberta, April 23, 2019 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) is pleased to announce it has executed a listing agreement with Cornerstone Company, Nevada U.S.A. (“Cornerstone”), whereby Cornerstone has agreed to act as the Company’s listing agent in its proposed sale of 3.89 acres of land in Henderson, Nevada (the “Real Estate Sale”) for an asking price of US$1,895,000, as recommended by Cornerstone. Maple Leaf intends to use the proceeds obtained from this sale for a potential acquisition of a licensed cultivator in Clark County, which the Company is currently in negotiations with (the “Potential Acquisition”). The Real Estate Sale and the Potential Acquisition are each subject to applicable approvals, including regulatory, corporate and stock exchange approvals.
We are excited about this opportunity to complete the sale of our current real estate in Nevada at a potentially higher market value than the land was originally acquired for. We also feel the locations of the two licensed cultivators who we are in negotiations with will provide a better political environment and cost saving for the Company’s long term growth strategy in Nevada, provided that we are able to negotiate a transaction in the best interests of Maple Leaf with one of these cultivators
said Raymond Lai, President and C.E.O. of Maple Leaf.
About Cornerstone Company:
Cornerstone Company is established in 1985 and has partnered with investors, retailers, developers and more to help them achieve their real estate goals in Southern Nevada. They have done more than $2 billion in transactions over the course of their company’s history. For further information regarding Cornerstone, please visit www.cornerstonecre.com.
For further information regarding the Company, please visit www.mlgreenworld.com.
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 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”.
This press release includes certain statements and information that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking information relates to future events about Maple Leaf’s intended business plans and operations, including the Real Estate Sale and the Potential Acquisition. All information other than historical fact may constitute forward-looking information within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget” or “budgeted”, “scheduled”, “estimates”, “projects”, “intends”, “proposes”, “complete”, “anticipates”, or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to the development and operation of the Company’s projects, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments involving medical and recreational cannabis, inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms, the medical and recreational cannabis industry in Canada and the United States of America and the jurisdictions where the Company operates generally, income and sales tax and regulatory matters, competition, crop failure, currency and interest rate fluctuations, regulatory approvals including approvals from municipal, provincial, county, state, and federal regulatory bodies in Canada and the United States of America. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed, planned, or intended. Accordingly, such list of factors are not exhaustive. Additional information on these and other factors which could affect the Company’s operations and financial results are discussed in the sections relating to risk factors of the business filed in the Company’s required securities filings with applicable securities commissions or other securities regulatory authorities and which may be accessed through the SEDAR website (www.sedar.com).
Specifically, this press release includes, but is not limited to, forward-looking information with respect to the completion of the Real Estate Sale and the Potential Acquisition, the latter of which is dependent on the Company’s ability to raise funds for its completion. Forward-looking information necessarily involves both known and unknown risks and uncertainties that could cause actual result to differ materially from those anticipated.
Although, the Company believes that expectations and assumptions reflected in the forward-looking information are reasonable, there can be no assurance that any forward-looking information will prove accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. These forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking information contained in this press release or that is incorporated by reference herein, whether as a result of new information, future events or results or otherwise, except in accordance with applicable securities laws.