CALGARY, ALBERTA--(Marketwired - Aug 14, 2014) - Maple Leaf Green World Inc. (TSX VENTURE:MGW) ("Maple Leaf" or the "Company") announces that subject to final approval from the TSX Venture Exchange, the proposed private placement of units that was previously announced on June 13, 2014 has now closed. The Corporation received subscriptions for 3,650,000 Units at a subscription price of $0.10per Unit, for total gross proceeds of $365,000. As previously announced, each Unit consists of one common share and one common share purchase warrant exercisable for two years from the date of closing at a price of $0.15.
In connection with the private placement Maple Leaf will pay finder's fees in the amount of $15,750 to two arm length parties. The common shares and warrants to be issued pursuant to the private placement are subject to a four month hold period from the closing date.
Maple Leaf intends to use the proceeds from the private placement to pursue its medical marijuana business and for general working capital.
Maple Leaf has also signed up an agency agreement with Asia Gold Ltd. (AGL), an investor of $200,000 in the recent private placement. This agency agreement will allow AGL to assist Maple Leaf, on a best effort basis when determined by Maple Leaf, to raise up to Cdn$5 million outside North America for the Company to pursue its medical marijuana business. This agreement is for the period of 1 year from September 1, 2014.
AGL is a capital holding company registered in New Zealand with offices in Hong Kong and Macau and has invested in various different sectors of industries around the world, with assets holding over US$ 25 million. AGL's website is www.aglglobal.net.
"We are excited to ally with one of the reputable and solid capital companies in Asia to assist us to raise the funding required for pursuing the medical marijuana business. Especially when they show their commitment by investing $200,000 into our private placement during this tough economic period for junior companies" said the President and CEO of Maple Leaf, Raymond Lai.
For further information regarding Maple Leaf Green World Inc., visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a Canadian company that focuses in the agricultural/environmental industry with three main areas of activity:
- Eco-Agriculture - Pursues several projects around the world. In China, it is focused on growing value-added tree seedlings and nursery products that assist with anti-desertification.
- Renewable Energy - Pursues various renewable energy projects around the world, including Yellowhorn in China which would provide valuable Yellowhorn seeds and ultimately oil from such seeds for the manufacture of bio-diesel fuel and premium healthy cooking oil.
- Canadian MMPR - Pursues opportunities within the medical cannabis industry. The Company is currently seeking a Canadian MMPR licensed producer status to grow medical cannabis in Canada for domestic consumption and export to approved countries.
Neither the TSX Venture Exchange or its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this news release including (i) statements that may contain words such as "anticipate", "could", "expect", "seek", "may" "intend", "will", "believe", "should", "project", "forecast", "plan" and similar expressions, including the negatives thereof, (ii) statements that are based on current expectations and estimates about the markets in which Maple Leaf operates and (iii) statements of belief, intentions and expectations about developments, results and events that will or may occur in the future, constitute "forward-looking statements" and are based on certain assumptions and analysis made by Maple Leaf. Forward-looking statements in this news release include, but are not limited to, statements with respect to future capital expenditures, including the amount, nature and timing thereof; other development trends within the agricultural industry, and status of, and ability to capitalize on, opportunities available to the Company and review business strategy; expansion and growth of Maple Leaf's business and operations and other such matters. Such forward-looking statements are subject to important risks and uncertainties, which are difficult to predict and that may affect Maple Leaf's operations, including, but are not limited to: the impact of general economic conditions; industry conditions; available equity or debt financing; government and regulatory developments including availability of requisite licences; product supply and demand; competition; and Maple Leaf's ability to attract and retain qualified personnel. Maple Leaf's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do transpire or occur, what benefits Maple Leaf will derive there from.
Maple Leaf maintains a forward-looking statement database which is reviewed by management on a regular basis to ensure that no material change has occurred with respect to such forecasts. The Company will publicly disclose such material changes to its forward-looking statements as soon as they are known to management.
August 14, 2014 - $0.065