Maple Leaf Green World Inc. Announces Corporate Update
Calgary, Alberta--(Newsfile Corp. - March 15, 2023) - Maple Leaf Green World Inc. (CSE: MGW) (OTCQB: MGWFF) ("Maple Leaf" or the "Company") is pleased to announce the following corporate update.
Cayman Island REIT Project
The Company's joint venture with QUIC Builds has brought the Company expertise and experience to a new market, offering luxury living options in one of the world's most sought-after destinations1. This project adds multiple revenue streams for the Company including home sales and long and short-term rental options. Construction of the first two luxury mini homes, previously announced in the November 8, 2022 press release, is progressing despite supply chain delays. In an effort to expedite construction of future homes, QUIC Builds has established a factory in the Cayman Islands dedicated to producing their patented block and panels. These properties are situated on Oasis Land Development Limited's Flagship development, Signature One. Signature One boasts two man-made lakes, picturesque ocean and garden views, prime lakeside land lots, and a host of on-site amenities.
The Company has also decided to list the first two properties for sale and is retaining Williams2 Real Estate Agency in the Cayman Islands. According to the agent, Signature One's development has seen no decrease in demand. The Company's fully developed properties are expected to sell for around $550,000 USD this year. However, with the addition of the club house, pool and gated community that will be in development later this year in Signature One, the properties could potentially fetch up to $850,000 USD in the next two years. Both houses are expected to be listed for pre-sale by early April.
California Health and Wellness Project
The Company has also decided to downsize its cultivation effort and focus on processing and manufacturing through its California subsidiary, Golden State Green World LLP ("GSGW"). By doing this, the Company can streamline its operation and enhance its product line by incorporating the herbal supplement and essential oil project from China. This move will allow the Company to increase efficiency and create a more sustainable business model that is better suited for the current market demands.
GSGW is currently cultivating the strain Matterhorn. Matterhorn is rich in cannabigerol (CBG) and is known for its consistency while maintaining THC compliance. GSGW is scheduling for a late spring harvest for Matterhorn. In addition, the Company has recently delivered sample disposable vapes to the online retailer mentioned in the Company's previous press release on January 3, 2023. Upon approval of these samples, the Company expects to sign a manufacturing agreement to secure the manufacturing of their disposable vape line and deliver minimum 1,000 disposable vapes per month.
In addition, the Company is also pursuing renewable energy projects with the intention of creating another subsidiary specializing in improving the environment and claiming carbon credit incentives. The Company will provide updates as these projects progress.
"We are proud to announce these exciting developments as it is a testament to the Company's ability to adapt to the changing needs of the market and demonstrate our commitment to growth. With our two projects, we are engaged with exciting markets that align with our mission to improve people's lives and improve our environment," says Raymond Lai - President & CEO.
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/.
For ReNao Wellness products, please visit https://www.renaowellness.com.
1 https://travel.usnews.com/Cayman_Islands/ and https://travel.usnews.com/Turks-Caicos/
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that is focused on the health and wellness industry in North America and China. The Company currently has a hemp project in Southern California, an essential oil project in China, and planning to invest in a REIT project in the Cayman Islands. With over 10 years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free hemp products. Maple Leaf's long-term objective is to produce hemp and essential oils for North America and international markets. The Company's common shares are listed for trading on the Canadian Securities Exchange ("CSE") 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 the CSE 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 the CSE 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158515