Business
Maple Leaf Reports Sale of Seedlings from Inner Mongolia
(TSX-V: MPE) Shares Issued: 56,092,327 Last Close: 07-04-2008 $0.33
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nShares Issued: 56,092,327\n\n\nLast Close: 07-04-2008 $0.33\n\n\nCALGARY, April 8 /CNW/ - Maple Leaf Reforestation Inc. (TSX Venture -\nMPE) ("Maple Leaf" or the "Company") is pleased to announce that Mr. Xi Yong\nTu was appointed General Manager of the Company's Inner Mongolia operations on\nMarch 20, 2008 and has already begun to generate some sales and other positive\nresults. All of the recent sales have been on a cash basis, involving an\nupfront deposit and the balance on delivery.\n\n\nThe Company has recently sold and shipped 200,000 seedlings and received\n$176,000 RMB (approximately $25,000 CAD) as a deposit for these seedlings. In\naddition, another 2 million seedlings will be shipped before the end of\nApril 2008 and a further 2 million seedlings will be shipped by the end of\nMay 2008. About $1.4 million RMB (approximately $200,000 CAD) will be received\non delivery for shipments for the month of April 2008. Total revenue from the\nshipments to be made during the month May is not certain at this time, but is\nguaranteed to be at least the same as that being received for the April\nshipments. The Company's shipping rate has increased from approximately\n30,000 seedlings per day to 90,000 seedlings per day. The recent sales have\nbeen done at a discount in order to clear out old inventory of seedlings,\nresulting in the Chinese Pine and Scott Pine already being sold out.\n\n\nMr. Raymond Lai, Chairman, President & C.E.O. of Maple Leaf is very\nexcited about the huge success that has been achieved by the new management of\nthe Inner Mongolia operations in such a short time. With this rate of sales,\nthe Company is hopeful that it will be well positioned financially to proceed\nwith the addition of a second greenhouse in the near future.\n\n\nAbout Maple Leaf Reforestation Inc.\n\n\nMaple Leaf is a Canadian company operating a large-scale forest nursery\nwhose primary focus is growing value added tree seedlings in addition to\nproviding landscaping and nursery products in China. Reforestation has been\nidentified as a critical strategy to help manage China's troubling\nenvironmental issues, namely pollution and desertification. Maple Leaf\ncurrently has over 6 million varieties of seedlings under cultivation at its\nnursery facility that includes a 110,000-square foot gr...