Maple Leaf Green World Inc. (MGWFF)

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$MGWFF Maple Leaf Green World Inc. Enters China’s Health and Wellness Market By Forming A New JV Company with Beijing Forest Eco

https://www.globenewswire.com/news-release/2021/12/07/2347420/0/en/Maple-Leaf-Green-World-Inc-Enters-China-s-Health-and-Wellness-Market-By-Forming-A-New-JV-Company-with-Beijing-Forest-Eco.html

CALGARY, Alberta, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”), (CSE: MGW) and (OTCQB: MGWFF), is pleased to announce that Maple Leaf has signed a joint venture agreement (the “JV”) with Beijing Forest Eco Program and Technology Co. Ltd. (“Forest Eco”), a leading forest health and natural wellness products company based in Beijing, China. The purpose of the JV is to form a new JV company to develop natural health and wellness products using essential oil and hemp oil and enhanced with Maple Leaf’s licensed nano technology from Biolinear Technologies. The JV’s products will be marketed and distributed in China and North America.

Forest Eco was established in 2004 with its headquarters in Zhong Guan Cun Innovation Hub in the Haidian District of Beijing. Zhong Guan Cun Innovation Hub is home to over 20,000 high tech firms, including some of China’s biggest internet firms such as Baidu and Sina. It is the centre of China’s aim to become a tech powerhouse, similar to Silicon Valley.

Forest ECO is the first to put forward the basic concept of plant therapy towards health promotion and actively researches and develops high-grade, medicinal, essential oil products. Additionally, Forest Eco promotes national forest rehabilitation and forest health which has gained strong support with the Chinese government and the State Forestry and Grassland administration. Forest Eco actively promotes and organizes the development of national forest health by conducting technical seminars and training courses to thousands of individuals. Year to date, Forest Eco has a revenue stream of USD $1.4M and is projected to earn revenues of USD $1.8M the following year.

Forest health is a systemic project connecting people and nature to improve the body’s self-healing ability. Forest Eco is comprised of a strong technical team and industry partners that has contributed to the completion of dozens of special projects. Using modern quantum medicine theory and traditional Chinese medicine technology, Forest ECO has developed a series of products and instruments suitable for health promotion and chronic disease rehabilitation. Forest Eco utilizes its land holdings and the vast natural plant resources found exclusively in China’s climate zone to develop a specialized product line of essential oils.

“We are thrilled to form a new company with Forest Eco and begin distributing wellness products in the Chinese market,” said Raymond Lai, Maple Leaf’s President and Chief Executive Officer. “We have been closely monitoring the strong growth of the industry in this region and anticipate it will only continue to grow for the foreseeable future. Maple Leaf has a strong partner in this JV, with extensive experience in the wellness and agricultural market in China. This JV also provides an excellent opportunity to distribute essential oil wellness products in the North American region.”

This JV introduces the first step in establishing a hemp cultivation and production foundation in China. Under the terms of the JV, Maple leaf will provide hemp oil cultivation and production expertise, provide proprietary and licensed technology to develop new products, provide marketing network in North America for the JV’s products, and utilize both companies' respective networks to raise capital. Forest Eco will provide essential oil cultivation and production expertise to develop new products, provide agricultural land in China for use in the cultivation of hemp and essential oil plants, and provide a marketing network in China for the JV’s products. Ownership of the JV and all profits provided by the JV’s operations will be evenly divided between the two firms.