Business
Maple Leaf signs up a $4 million Canadian Sales Contract
Maple Leaf signs up a $4 million Canadian Sales Contract.
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nShares Issued: 47,294,227\n\n\nLast Close: 04-07-2007 $0.30\n\n\nCALGARY, July 5 /CNW/ - Maple Leaf Reforestation Inc. is pleased to\nannounce the company has signed a two years sales contract for $28 million RMB\n(approximately $4 million Canadian) with Liangcheng Dadi Forestry Co. Ltd.,\nPRC, to purchase a variety of the company's tree seedlings.\n\n\nUnder the sales contract, Liangcheng Dadi, located in Liangcheng city,\nInter Mongolia, a local privately owned company in the forestry business, will\nstart purchasing in September 2007 through to September 2009, approximately\n26.9 million seedlings in 5 separate deliveries. In September, 2007, the\n5.38 million seedlings purchased will include a variety of existing seedlings\ncurrently under cultivation within the company's nursery facilities. The\nseedlings sold are varieties of Colorado spruce (1.69 million); Chinese pine\n(615,000), Jack pine (760,000), Scots pine (530,000), Northern China larch\n(225,000) and Colorado Kibab spruce (1.56 million). The total value of each\ndelivery is approximately $5.65 million RMB (approximately $810,000 Canadian).\nLiangcheng Dadi may increase the quantity of the subsequent deliveries in the\nearly spring of 2008, if it is satisfied with the survival and growth rate of\nthe 1st delivery, and Maple Leaf will accordingly give Liangcheng Dadi a\ndiscount up to 5% on the contract price for the subsequent deliveries.\nFurther, Liangcheng Dadi is required to make cash payment to the company's\nbank account prior to the shipment of each delivery of seedlings.\n\n\nRaymond Lai, chief executive office and president of Maple Leaf, is very\npleased that large sales contracts start coming in at a steady rate, totaling\nalmost $5 million Canadian, so far. A big progress in 2 months time after the\nnew management team takes over.\n\n\nMaple Leaf's primary mission is to provide top quality, value added\nnursery seedlings and modern Canadian tree growing technology to assist China\nin solving its desertification problems. Maple Leaf currently has over\n6,000,000 various types of seedlings under cultivation in our 110,000 square\nfoot greenhouse.\n\n\nWe seek Safe Harbor.\n\n\n The TSX Venture Exchange does not accept responsibility\n for the adequacy or accuracy of this release.\n\n\nCertain statements in this news release inclu...