CALGARY, Alberta, May 13, 2021 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQB: MGWFF) is pleased to announce that its wholly owned subsidiary, Golden State Green World LLC, has signed a cultivation partnership agreement (the “Agreement”) with APEX Genetics LLC (“APEX”); a seed genetics firm currently being acquired by Swissx.
Swissx was founded by billionaire Alkivades David in 2015 and is known for its CBD product line (available online at www.swissx.com). As the first brand to go mainstream in the US, Swissx consists of a network of complementary brands and companies supporting the extended cannabis lifestyle. Swissx’s acquisition of APEX is advancing research into hemp and cannabis with a significant portion devoted to the incredible potential of CBG.
Under this Agreement, APEX will supply their proprietary strain, Swissx Melon, a CBD-rich hemp strain, for Maple Leaf to cultivate using its greenhouse technology in a fully automated and climate controlled environment. Maple Leaf will grow, dry and trim the CBD plants to APEX’s specifications as outlined in the Agreement, ensuring compliance with local and federal laws and regulations. After harvesting, APEX is committed to distributing the entire production of flower, biomass and trim with the flower price established at US$225 /lb. Maple Leaf will be compensated 85% of the gross sales and APEX will keep the remaining 15%.
“We are delighted to select Maple Leaf’s farm in California to grow our genetic strain. We were pleased with the achievements they’ve made on their CBG strain that we knew our strain would be in good hands,” said Matt Bentley, CEO of APEX Genetics and Swissx Labs. “We are excited to work together to develop the most effective CBD products to bring to market,” concluded Bentley.
APEX will deliver its first batch of 5,000 Swissx Melon seeds to the cultivation site this week. The Company expects each harvest to yield about 5,000 lbs of CBD-rich hemp with an estimated total sale value of US$1.1M with 85% (or US$956,000) to Maple Leaf for a total yearly revenue of approximately US$3.8M. The number of seeds provided from APEX can be increased in subsequent crops pending the success of each harvest. This is a one year contract and is renewable each year.
“This Agreement will be another milestone for Maple Leaf this year and a tribute to its greenhouse technology and experienced staff. This opens up another new revenue stream for the Company, in addition to the smokable hemp products in development with Hempacco,” said Raymond Lai, President & CEO of Maple Leaf.
Maple Leaf continues to develop multi-faceted growth opportunities through new product development and strategic partnerships. In the past few months, the Company has established a joint venture (“JV”) partnership with Hempacco and a cultivation partnership with Swissx. The JV with Hempacco will continue to focus on the Company’s new line of CBG hemp cigarettes, Phoenix Crave, and other functional smokes that will disrupt the trillion dollar tobacco industry. The cultivation partnership with APEX will focus on the Company’s cultivation technology and expertise to produce high quality CBD/CBG hemp products.
The Company continues to be committed to its high quality CBG hemp production and is excited to be partnered with Hempacco, to disrupt tobacco, and with Swissx, to cultivate their CBD genetic strain Swissx Melon. The Company’s CBG production yield will not be affected by this Agreement as it has expanded its cultivation capacity to include an outdoor crop.
Billy Bewcyk, V.P. of Business Development for the Company is currently in Las Vegas this week for the Tobacco Plus Expo (“TPE21”) in booth 10106 with Hempacco. The sold out trade show will provide an excellent opportunity to showcase Phoenix Crave CBG hemp cigarettes to clients and distributors.
For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.
For updates regarding the California CBG Hemp Project, please visit https://www.gsgreenworld.com/.
About Maple Leaf Green World Inc.
Maple Leaf is a Canadian public company focused on the hemp industry in North America. The Company currently owns a hemp farm in Southern California. 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 make cannabis oil and export 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, 2020 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