Business
Maple Leaf signs up an $820,000 Canadian Sales Contract with Inner Mongolia Government
Maple Leaf signs up an $820,000 Canadian Sales Contract with Inner Mongolia Government.
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\n(TSX-V: MPE)\n\n\nShares Issued: 47,184,227\n\n\nLast Close: 07-26-2007 $0.89\n\n\nCALGARY, July 27 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is\npleased to announce that it has signed a 1 year sales contract with Liangcheng\nCounty State-owned Dongpeng Nursery, PRC ("Liangcheng Dongpeng"), to purchase\na variety of Maple Leaf's tree seedlings for $5.8 million RMB (approximately\n$820,000 Canadian). Liangcheng Dongpeng is located in Yongxing Town of\nLiangcheng County, Inner Mongolia, and is a government owned company in the\nforestry business.\n\n\nUnder the sales contract, Liangcheng Dongpeng will purchase approximately\n5.7 million seedlings in 3 separate deliveries beginning in September 2007\nthrough to August 2008. The 5.7 million seedlings purchased will include a\nvariety of existing seedlings currently under cultivation within Maple Leaf's\nnursery facilities. The seedlings are varieties of Colorado Spruce\n(2.95 million), Chinese Pine (645,000), Jack Pine (1.08 million), Scots Pine\n(690,000) and Northern China Larch (375,000). The total value of each delivery\nwill be approximately $1.93 million RMB (approximately $273,000 Canadian).\nLiangcheng Dongpeng may increase the quantity of the subsequent deliveries in\nthe early spring of 2008 if it is satisfied with the survival and growth rate\nof the 1st delivery. Liangcheng Dongpeng is required to make a cash payment to\nMaple Leaf prior to the shipment of each delivery of seedlings.\n\n\nRaymond Lai, President and Chief Executive Officer of Maple Leaf, is very\npleased that Maple Leaf has signed its 1st sales contract with a Chinese\nprovincial government. Mr. Lai stated, "I am very excited that we have finally\nopened the door to the huge Chinese Government's forestry sector; once we have\ndemonstrated the good quality of our seedlings I am very confident that more\nGovernment sales contracts will be forthcoming."\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\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy...