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Maple Leaf Green World Inc
Symbol MGW
Shares Issued 161,355,398
Close 2020-06-18 C$ 0.10
Recent Sedar Documents

Maple Leaf Green signs $10.5M (U.S.) deal with Canna

2020-06-18 09:15 ET - News Release

Mr. Raymond Lai reports

MAPLE LEAF GREEN WORLD INC. HAS SIGNED A YEARLY SALES AGREEMENT WITH CANNA TRADING CO. FOR MIN. US$10.5 MILLION

Maple Leaf Green World Inc. has arranged a site tour of its California hemp project for Canna Trading Company. The site tour provided insight into the company's contaminant-free, organic CBG hemp operation and presented a visual of site's expansion capabilities. Following the site tour, Canna was pleased to upgrade the $2.6-million (U.S.) purchase order, as announced on May 27, 2020, to a yearly sales agreement for its subsidiary to purchase, exclusively, all La Creme products produced from three greenhouses totalling a minimum of 20,000 pounds (lb) of flower and 20,000 lb of biomass per year. This sales agreement is currently valued at $10.5-million (U.S.). Canna will also have first right of refusal on any quantity of flowers and/or biomass produced by those three greenhouses that exceeds the 20,000-pound limit set forth in the agreement.

The company is also pleased to announce that its second shipment of 2,500 La Creme clones and seedlings has arrived on site and transplanted into those greenhouses. The company will continue to propagate and expand its grow space into the 10,000-square-foot outdoor area that was previously levelled for expansion in order to meet the first shipping date to Canna in August.

"We are excited to have received a yearly purchase order, preharvest, for half of our current growing capacity. With 20 acres of land, we can expand our capacity even further. We have also scheduled additional site tours for prospective clients in the coming weeks. While CBG is still in the early stages of research, it's great to see that its potential is being recognized," said Raymond Lai, president and chief executive officer.

As COVID-19 restrictions begin to ease in California, the company has been steadily rehiring staff to the site and encouraging everyone to continue to maintain social distancing and adhering to the rules laid out by health officials.

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.

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