Maple Leaf Green World Inc. (MGWFF)

[trader_ron]

$MPEFF / MGW News out- Maple Leaf Green World Inc. - Update on Las Vegas Permit Acquisition

#CannaBis #Hemp #MMJ #CBD #OTCSTOCKS


CALGARY,ALBERTA-MapleLeafGreenWorld(MGW-V)("Maple Leaf" orthe"Company") is pleased to announce that the Company and BioNeva Innovations of Henderson LLC (“BioNeva”) have agreed to extend the term of their previously announced Letter of Intent (“LOI”) regarding the purchase of a Nevada cultivation permit (the “Permit”) from BioNeva to January 16, 2017. See the Company’s news release dated November 8, 2016.

The LOI extension is necessary to give Maple Leaf sufficient time to complete the purchase of a suitable site in Henderson, Nevada, which is required, under Nevada law, for the transfer of the Permit to the Company. To accelerate the transfer process, Maple Leaf has elected to acquire an existing warehouse property in Henderson (the “Target Site”) rather than construct a new building. The Company is currently preparing a formal offer to acquire the Target Site. If its offer is accepted, Maple Leaf will then submit an application to Henderson City Council for approval of the transfer of the Permit. Provided such approval is obtained, usually within 30 days and all other conditions to the transaction with BioNeva are satisfied, the Company or its nominee will become the legal owner of the Permit and renovation at the Target Site will commence immediately.

Currently, there are only about 100 cultivation permits which are operational in the State of Nevada. The Company understands that state authorities do not intend to issue additional cultivation permits until they are satisfied the cannabis market’s demand-supply balance has been tilted by strong demand. As a result, management of the Company believes its potential acquisition of the Permit will add significant shareholder value.

With regard to the recent trading activity in the Company’s shares, management confirms that it is not aware of any undisclosed developments that would account for such activity.

ForfurtherinformationregardingMapleLeafGreenWorldInc.,please visitthe www.mlgreenworld.com.


AboutMapleLeafGreenWorldInc.

Maple Leaf Green World Inc. is a Canadian company that focuses on the cannabis industry in North America. With over 10 years extensive greenhouse management experience, it applies its eco- agriculture knowledge and cultivation technology to produce contaminant free organic cannabis products . The Company is currently involved in three cannabis projects:

Canada – The Company has applied for a ACMPR license for a 80,000 sq ft greenhouse complex in B.C. in August 2014 and has been in Stage 4 (Security Clearance) with Health Canada since December 2015.



2. California – The Company is in a joint venture with a Non- Profit Co-Op to cultivate cannabis for its members. The Company owns 20 acres of land and has 2 greenhouses in production since September 2016. The site on which the joint venture operates has capacity for additional greenhouses. Maple Leaf is also in the process of applying for a cultivation license in San Diego area.

3. Nevada – The Company is in the process to acquire a cultivation permit for a 33,500 sq ft facility from an existing licensee and has plans for a facility operating in the city of Henderson, 15 miles from Las Vegas.

Maple Leaf’s long term objective is to produce cannabis oil and export its products to approved countries.

http://www.bloomberg.com/press-releases/2016-12-14/maple-leaf-green-world-inc-update-on-las-vegas-permit-acquisition