Mr. Raymond Lai reports
MAPLE LEAF GREEN WORLD INC. OPENS UP A NEW REVENUE STREAM BY SIGNING A CULTIVATION PARTNERSHIP AGREEMENT WITH SWISSX
Maple Leaf Green World Inc.'s wholly owned subsidiary, Golden State Green World LLC, has signed a cultivation partnership agreement with Apex Genetics LLC, a seed genetics firm currently being acquired by Swissx.
Swissx was founded by billionaire Alkivades David in 2015 and is known for its cannabidiol product line. As the first brand to go mainstream in the United States, 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 cannabigerol.
Under this agreement, Apex will supply its 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 $225 (U.S.) per pound. Maple Leaf will be compensated 85 per cent of the gross sales and Apex will keep the remaining 15 per cent.
"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, chief executive officer of Apex Genetics and Swissx Labs. "We are excited to work together to develop the most effective CBD products to bring to market," concluded Mr. 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 pounds of CBD-rich hemp with an estimated total sale value of $1.1-million (U.S.) with 85 per cent (or $956,000 (U.S.)) to Maple Leaf for a total yearly revenue of approximately $3.8-million (U.S.). 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 and chief executive officer of Maple Leaf.
Maple Leaf continues to develop multifaceted growth opportunities through new product development and strategic partnerships. In the past few months, the company has established a joint venture 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 its 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, vice-president of business development for the company, is currently in Las Vegas this week for the Tobacco Plus Expo in booth 10,106 with Hempacco. The sold-out trade show will provide an excellent opportunity to showcase Phoenix Crave CBG hemp cigarettes to clients and distributors.
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 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 make cannabis oil and export products to approved countries.
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