Business
Maple Leaf secures $3.2 million in revenue from alfalfa feedstock operation
Maple Leaf secures $3.2 million in revenue from alfalfa feedstock operation
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\nMaple Leaf secures $3.2 million in revenue from alfalfa feedstock operation\n\n\n Jul. 15, 2009 (Baystreet.ca) -- CALGARY -- Maple Leaf Reforestation Inc. (TSX-V: MPE) (\"Maple Leaf\" or the \"Company\") is pleased to announce that it has signed a letter of intent regarding a distributorship agreement with Hebei Taoyuan Feedstock International Trading Co., Ltd. (\"Hebei\") to sell 10,000 tons of alfalfa cake and stack on behalf of Maple Leaf between July, 2009 and July, 2010. The alfalfa cake and stack will be sold to Hebei for $322 Cdn (1900 Rmb) per ton initially, however this price may be adjusted upwards or downwards as mutually determined by Maple Leaf and Hebei based on prevailing market prices. Based on current pricing, total revenue from these sales will be approximately $3.2 million Cdn (19 million Rmb). Maple Leaf will receive payment for these shipments within 15 days of each delivery.\n\nRaymond Lai, President & CEO of Maple Leaf comments, \"As with the distributorship agreements that we recently signed with respect to our organic fertilizer operation, this arrangement will allow us to access part of the alfalfa market that would have otherwise been difficult to get business from. Although our alfalfa operation has only been a minor contributor to our revenues for the past few months, this will now change given our new relationship with Hebei. Securing this amount of sales from our alfalfa operation means that all three of our primary operations will now meaningfully contribute to our revenue stream. We are excited about ramping up our alfalfa operation.\" \nAbout Maple Leaf Reforestation Inc. \nMaple Leaf is a Canadian company operating four environmental related projects in China: \n\n\n1. a large-scale forest nursery in Inner Mongolia which is focused on\ngrowing value-added tree seedlings and alfalfa feedstock alongside\nlandscaping and nursery products;\n\n2. a multi-faceted Xinjiang Yellowhorn tree project which will provide\nfor the manufacture of bio-diesel fuel and cooking oil and complement\nthe fabrication of the ever demanding nutritious alfalfa feedstock;\n\n3. an organic fertilizer plant in the Hunan Province which will produce\nenvironmentally friendly bio-organic fertilizer; and\n\n4. a Flexi-Pipe distribution network to serve the oil and gas industry\nand other renewable energy industries.\n\nMaple...