Maple Leaf Green World Inc. Announces Proposed Sale of Land in Henderson, Nevada, with the Proposed Use of Proceeds for the Acquisition of a Cannabis Cultivation License in Nevada
2019-04-23 08:00:23 AM ET (GlobeNewswire)
Maple Leaf Green World Inc. ("Maple Leaf" or the "Company") (NEO: MGW, OTCQX: MGWFF) is pleased to announce it has executed a listing agreement with Cornerstone Company, Nevada U.S.A. ("Cornerstone"), whereby Cornerstone has agreed to act as the Company's listing agent in its proposed sale of 3.89 acres of land in Henderson, Nevada (the "Real Estate Sale") for an asking price of US$1,895,000, as recommended by Cornerstone. Maple Leaf intends to use the proceeds obtained from this sale for a potential acquisition of a licensed cultivator in Clark County, which the Company is currently in negotiations with (the "Potential Acquisition"). The Real Estate Sale and the Potential Acquisition are each subject to applicable approvals, including regulatory, corporate and stock exchange approvals.
"We are excited about this opportunity to complete the sale of our current real estate in Nevada at a potentially higher market value than the land was originally acquired for. We also feel the locations of the two licensed cultivators who we are in negotiations with will provide a better political environment and cost saving for the Company's long term growth strategy in Nevada, provided that we are able to negotiate a transaction in the best interests of Maple Leaf with one of these cultivators," said Raymond Lai, President and C.E.O. of Maple Leaf.
About Cornerstone Company:
Cornerstone Company is established in 1985 and has partnered with investors, retailers, developers and more to help them achieve their real estate goals in Southern Nevada. They have done more than $2 billion in transactions over the course of their company's history. For further information regarding Cornerstone, please visit www.cornerstonecre.com.
For further information regarding the Company, please visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the cannabis industry in North America. The Company is in the process of construction of a marijuana facility in British Columbia. With over ten 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 produce cannabis oil and to export its products to approved countries. The Company's common shares are listed for trading on the Aequitas NEO Exchange Inc. under the symbol "MGW" and on the OTCQB market under the symbol "MGWFF".
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