Business
Maple Leaf Reforestation Inc. - Alfalfa Shipments and Purchase Contracts
(TSX-V: MPE) Last Close: November 7, 2008 - $0.13 Shares Issued: 56,511,127
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nLast Close: November 7, 2008 - $0.13\n\n\nShares Issued: 56,511,127\n\n\nCALGARY, Nov. 10 /CNW/ - Maple Leaf Reforestation Inc.(TSX-V-MPE) (the\n"Company" or "Maple Leaf") is pleased to report the following update from its\nAlfalfa operations in Xinjiang.\n\n\nIn October the Company shipped 130 tonnes of alfalfa to various Chinese\npurchasers at a purchase price of $280/tonne Cdn ($1,400 Rmb), resulting in\nrevenues to Maple Leaf of $36,400 Cdn ($182,000 Rmb). For November the Company\nis in the process of sending out 660 tonnes of alfalfa at an average purchase\nprice of $400/tonne Cdn ($2000 Rmb) providing revenues of $282,000 Cdn ($1.41\nmillion Rmb). The increase in purchase price is due to positive results from\nrecent testing of the Company's alfalfa product which was done by local\nauthorities. The testing showed that the Company's alfalfa has a very high\nprotein content of 16.5%, which has thereby increased demand. The recent\n"contaminated milk" issue in China has also forced dairy producers to look for\nfeedstock with high nutrient levels, thus increasing the value of such\nproducts. These events have allowed Maple Leaf to forge ongoing alliances with\nvarious major alfalfa consumers.\n\n\nThe November shipments of 660 tonnes are being made to the following\ncompanies:\n\n\n- 360 tonnes to Guandong Wen's Foodstuffs Group Co. Ltd. at a purchase\n price of $450/tonne Cdn ($2,250 Rmb);\n\n- 200 tonnes to Inner Mongolia Yili Industrial Group Co. Ltd. at a\n purchase price of $400/tonne Cdn ($2,000 Rmb); and\n\n- 100 tonnes to Heibei Kai Te Group Co. Ltd. at a purchase price of\n $400/tonne Cdn ($2,000 RMB).\n\n\nA contract for a further 6,000 tonnes of paddy feedstock valued at\n$400,000 Cdn ($2 million Rmb) has been agreed to between the Company and\nGuandong Wen's Foodstuffs Group Co. Ltd. The Company's newly developed\nrelationships with Guangdong Wen's Foodstuffs Group Co. Ltd., Inner Mongolia\nYili Industrial Group Co. Ltd. and Heibei Kai Te Group Co. Ltd. (the\n"Purchasers") are extremely encouraging as they are each companies with\nrevenues exceeding $20 million Cdn ($100 million RMB). Mr. Raymond Lai, Maple\nLeaf's President and CEO is confident that the quality of its alfalfa product\nwill impress the Purchasers and lead to further purchase contrac...