Business
Maple Leaf Reforestation Inc. - Xinjiang Project update
(TSX-V: MPE) Shares Issued: 53,806,980 Last Close: 12-05-2007 $0.85
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nShares Issued: 53,806,980\n\n\nLast Close: 12-05-2007 $0.85\n\n\nCALGARY, Dec. 6 /CNW/ - Maple Leaf Reforestation ("Maple Leaf") and its\nXinjiang Yellowhorn Project (the "Project") manager, Ms. Zhen Chen, are\npleased to report that the initial advancement of $370,000 CAD has led to the\nfollowing updates:\n\n\n1. Maple Leaf has received 100,000 Yellowhorn seeds. A portion of these\n seeds have been sent to a leased greenhouse facility in Sanya,\n Hainan Island of southern China where they will be cultivated. Once\n these seeds reach seedling height, they will be shipped back to\n Xinjiang to be planted outside. Another 500,000 seeds have been\n ordered and are expected to be delivered in the near future.\n\n2. Maple Leaf is also in the process of erecting several temporary\n greenhouse tents in Xinjiang which will be utilized to germinate\n additional Yellowhorn seeds.\n\n\nMaple Leaf would also like to comment on the current market situation\nrelating to Yellowhorn cooking oil. There has seemingly been a dramatic\nincrease in the international demand for the product since the initial\nannouncement of the Project on October 15, 2007. The market price for the\ncooking oil has increased from 40 RMB (approximately $5.50 CAD) per kilogram\nto over 200 RMB (approximately $27.50 CAD) per kilogram. Maple Leaf has\nalready been contacted by several internationally situated companies regarding\npotentially making advanced bookings for the Project's 2008 production.\n\n\nMaple Leaf would also like to announce that they have received approval\nfrom the Jilin Saar County of Xinjiang to increase its plantation area from\n400,000 MU (or 68,000 acres) to 1 million MU (or 170,000 acres). This decision\nwas greatly influenced by the Beijing, China State Council's recent\nannouncement that they have increased government funding for desertification\nprograms.\n\n\nFinally, Maple Leaf is pleased to announce that it has decided to sponsor\na new anti-desertification foundation charity fund by donating 1 million RMB\n(approximately $140,000 CAD) to this foundation. Mr. Raymond Lai, President &\nCEO of Maple Leaf, will be appointed as the Honorable Chairman of this\nfoundation. The foundation will be run by various Central China government\nofficials. The foundation will be named "China Green En...