Business
$3 Million Private Placement of Units
$3 Million Private Placement of Units.
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nShares Issued: 53,733,660\n\n\nLast Close: 10-29-2007 $1.41\n\n\nCALGARY, Oct. 30 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is\npleased to report that its Board of Directors have approved a non-brokered\nprivate placement of up to $3 Million of units at $1.50 per unit. Each unit\nconsists of one common share of the Corporation and one half of one common\nshare purchase warrant, each whole common share purchase warrant entitling the\nholder to purchase one common share at an exercise price of $2.00 per common\nshare for a period of two years from the date of issuance.\n\n\nWhile the private placement is non-brokered, Maple Leaf may pay\ncommissions, including broker warrants, to registered dealers who obtain\nsubscriptions for the private placement.\n\n\nMaple Leaf intends to use the proceeds from the private placement to\nproceed with the Xinjiang project, announced in Maple Leaf's news release on\nOctober 16, 2007, to expand its sales and marketing campaign, and for general\nworking capital.\n\n\nThe private placement is subject to approval of the TSX Venture Exchange.\nCommon shares sold under the financing will be subject to a four month hold\nperiod.\n\n\nMaple Leaf's primary mission is to provide top quality, value added\nnursery seedlings and modern Canadian tree growing technology to assist China\nin solving its desertification problems. Maple Leaf currently has over\n6,000,000 various types of seedlings under cultivation in its 110,000 square\nfoot greenhouse.\n\n\nThe TSX Venture Exchange does not accept responsibility\n\n\nfor the adequacy or accuracy of this release.\n\n\nCertain statements in this news release including (i) statements that may\ncontain words such as "anticipate", "could", "expect", "seek", "may" "intend",\n"will", "believe", "should", "project", "forecast", "plan" and similar\nexpressions, including the negatives thereof, (ii) statements that are based\non current expectations and estimates about the markets in which Maple Leaf\noperates and (iii) statements of belief, intentions and expectations about\ndevelopments, results and events that will or may occur in the future,\nconstitute "forward-looking statements" and are based...