Business
Maple Leaf Enters Agriculture Industrialization Cooperation Agreement
Last Close: April 20, 2009 - $0.11 Shares Issued: 56,511,127 CALGARY, May 14 /CNW/ - Maple Leaf R...
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\nLast Close: April 20, 2009 - $0.11\nShares Issued: 56,511,127\n\n\nCALGARY, May 14 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf" or\nthe "Company") is pleased to announce that it has agreed to partner with\nHanshou County Jinmandi Agriculture Development & Plantation Center\n("Jinmandi"), which is owned by Guangdong Jingsheng Investment Co., Ltd., to\nconstruct an eco-agricultural conglomerate of facilities in Hanshou County\n(the "Facilities"). Jinmandi will invest up to $30 million Cdn (165 million\nRmb) to build a pig farm, a fertilizer plant and a red potato plantation and\nprocessing plant. Construction and operation of the Facilities will be the\nresponsibility of Jinmandi and Maple Leaf will provide marketing and financial\nmanagement support, both during the construction and operational phases.\nJinmandi will be solely responsible for all financial expenditures and liable\nfor all financial risks and liabilities relating to the construction and\noperation of the Facilities.\n\n\nThe first phase of construction of the Facilities is to build the pig\nfarm (the "Farm"), and it is anticipated that ground will be broken on this\nproject in May 2009. The Farm will be 10,000 square meters in size and will\nhave a 900 meter paved road leading to the entrance. Jinmandi will invest\napproximately $2.1 million Cdn (11.55 million Rmb) to build the Farm and 8 to\n10 acres (50-60 mu) of land will be contributed by Maple Leaf to Jinmandi for\nthe location of the Farm (the "Facility Lands"). It is anticipated that the\nFarm will house up to 10,000 pigs at any one time, and current market prices\nindicate that the pigs will be sold for net profits of approximately $275 Cdn\n(1,500 Rmb) per pig. Jinmandi anticipates that the Farm will be profitable by\n2011.\n\n\nJinmandi and Maple Leaf will own 90% and 10% of the Farm respectively,\nand profits will be shared between the parties according to this ownership\nratio. The ownership ratio for the fertilizer plant and red potato plant will\nbe negotiated separately and announced at a later time.\n\n\nMaple Leaf will also be independently using some of the Facility Lands to\ngrow 20,000 date trees and some watermelon patches. All revenue from these\nsources will be Maple Leaf's. Dates are presently a very popular cons...