Mr. Raymond Lai reports

MAPLE LEAF GREEN WORLD INC. ANNOUNCES CORPORATE UPDATE AND SETTLEMENT OF DEBT

Maple Leaf Green World Inc. has appointed Andrew Wang and Thomas West to Maple Leaf Green's board of directors, effective today. With Mr. Wang and Mr. West joining the board, the company would like to announce the resignation of Jeffrey Mashregi and Matthew Hay from the board. Mr. Hay will be offered a consulting role to serve as an adviser and subject matter expert to assist the company in developing its hemp business.

Mr. Wang joins the board following an extensive career as a mechanical engineer with leadership positions in China and Canada. His experience includes over 20 years of certified CADD (computer-aided design), robotics, manufacturing, facility designs and heavy-duty vehicle designs. Mr. Wang's leadership and comprehensive skill set will aid the company in strategic planning and new business developments.

Mr. West joins the board with over 25 years of executive leadership experience. Mr. West is currently the chief executive officer of Imola Operations (Autumn) Ltd., a private oil and gas company with operations in central Alberta. His distinguished career includes a technical background with extensive experience in business development, marketing and corporate financial modelling. Mr. West is resourceful, engaging and a collaborative leader who has deep experience in executing growth strategies.

"We are excited to welcome Mr. Wang and Mr. West to our board of directors. Their extensive expertise in their fields and leadership roles will be invaluable to us as we navigate our new direction and execute our strategic growth plans," said Raymond Lai, president and chief executive officer of Maple Leaf Green.

The company will continue to evolve as it develops the acquisition and merger agenda with its joint venture partner, Beijing Forest Eco Program and Technology Co. Ltd. Mr. Wang and Mr. West will be instrumental to the execution of the agenda and provide the experience needed to accelerate the company's long-term growth strategy.

Settlement of debt

The board of directors has approved the settlement of $509,850 of debt held by certain service providers and a director of the company through the issuance of common shares of the company. Pursuant to the debt settlement agreement, the company will issue 5,665,000 common shares at a deemed price of nine cents per share.

1. A total of 4,831,667 shares will be issued pursuant to the terms of a debt settlement agreement dated Jan. 21, 2022, between the company and certain service providers in consideration for trade payables owing by the company to the service providers.
2. A total of 833,333 shares will be issued pursuant to a debt settlement agreement dated Jan. 21, 2022, entered into between the company and Terence Lam, director and chief financial officer of the company, in consideration for employment compensation payables and funds loaned to the company for general and administrative expenses owed to Mr. Lam.

Mr. Lam's debt settlement agreement is considered to be a related-party transaction as defined under Multilateral Instrument 61-101. The transaction was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of any securities issued to, nor the consideration paid to, such persons exceeded 25 per cent of the company's market capitalization.

Full details of the common share issuance will be on SEDI. All of the independent directors of the company, acting in good faith, considered the transactions and have determined that the fair market value of the common shares being issued, and the consideration being paid, is reasonable.

All securities issued pursuant to the debt settlement will be subject to a four-month hold period from the date of issue. This debt settlement is part of the company's efforts to reduce cash burn and ensure the company is positioned to allocate resources to accelerating operational progress.

The debt settlement is subject to exchange approval.

About Maple Leaf Green World Inc.

Maple Leaf Green 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 and an essential oil project in China. With over 10 years of extensive greenhouse management experience, the company applies its ecoagriculture knowledge and cultivation technology to produce contaminant-free hemp products. Maple Leaf Green'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 under the symbol MGW and on the OTCQB market under the symbol MGWFF.

We seek Safe Harbor.