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CALGARY, Alberta, April 27, 2020 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQB: MGWFF) is pleased to announce that all six (6) greenhouses for its California Hemp Project are complete and fully operational. The six (6) new greenhouses include a 2000 sq. ft. nursery used for seed germination, housing mother plants, and crossbreeding strains. This completes a total growing capacity of 17,000 sq. ft. An additional 10,000 sq. ft. of land has been cleared and is ready for further expansion.
Maple Leaf is also excited to announce that the shipment of La Crème seedlings arrived ahead of schedule and has been placed in the nursery. The seedlings are healthy and have been maturing for a week. La Crème is considered a top CBG strain due to its 18% CBG concentration with 0.20% THC. The Company will continue to search for other top quality CBG strains, as well as strains with specific characteristics and traits for breeding.
“We are all very excited to reach this incredible milestone for our California Hemp Project. Our team has done a fantastic job moving this project ahead while dealing with a global pandemic. We are looking forward to the next few weeks when we will be moving all the clones into the remaining greenhouses and starting a full cultivation operation.”
- Raymond Lai, President & CEO
Production Capacity and Market Price
Maple Leaf’s main product line will include flowers, seeds and biomass. Clones will be made available per client request. The Company is also pleased to report that after closer inspection of the seedlings; we have observed strong growth and can comfortably double the number of clones clipped from each plant. This increases our original conservative estimate of 1,500 plants to approximately 3,000 plants. Each plant will yield approximately 2 lbs of cured flowers or 10,000 seeds with 90% feminine; and 3 lbs of CBG biomass. The Company plans to begin propagation this week followed by new cuttings every 2 weeks as more nodes develop. This will yield 3-5 clones biweekly per plant and totaling roughly 300,000 clones per year. The Company’s yearly production yield is estimated at approximately 18,000 lbs of cured flowers or 3,000 lbs of feminized seeds (1 lb contains approx. 27,000 seeds), and 27,000 lbs of CBG biomass. The current market price for La Crème is approximately $5 USD/clone, $400 - $800 USD/lb for cured flowers, $1 USD/seed, and $200/lb of CBG biomass.
The Company would also like to announce that website enhancements are underway to include a product and shopping module that will accept inquiries and online purchases for clones, seeds, cured flowers, and biomass of the La Crème strain. Additional strains will become available as we grow and breed Maple Leaf’s product line.
For further information and updates regarding the Company, please visit its newly designed website at www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the cannabis and hemp industry in North America. The Company currently has cannabis and hemp 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
Billy Bewcyk, V.P. for Business Development