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Maple Leaf Green World Inc. Has Signed A

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John-Knee   Thursday, 06/18/20 08:05:27 AM
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Maple Leaf Green World Inc. Has Signed A Yearly Sales Agreement With Canna Trading Co. For Min. US$10.5 Million
2020-06-18 08:00:13 AM ET (GlobeNewswire)
Maple Leaf Green World Inc. ("Maple Leaf" or the "Company") (NEO: MGW, OTCQB: MGWFF) is pleased to report that a site tour of the Company's California Hemp Project has been arranged for Canna Trading Company ("Canna"). 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 US$2.6M 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 (3) greenhouses totaling a minimum of 20,000 lbs of flower and 20,000 lbs of biomass per year. This sales agreement is currently valued at US$10.5M. Canna will also have 1 right of refusal on any quantity of flowers and/or biomass produced by those 3 greenhouses that exceeds the 20,000 lb limit set forth in the agreement.

For information about Canna, please visit their site at www.cannatrading.co.

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 sq. ft. outdoor area that was previously leveled for expansion in order to meet the 1 shipping date to Canna in August.

"We are excited to have received a yearly purchase order, pre-harvest, 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."

- Raymond Lai, President & CEO

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

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