Business
Maple Leaf signs up another $1.5 million Canadian Sales Contract
Maple Leaf signs up another $1.5 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: 47,184,227\n\n\nLast Close: 07-16-2007 $0.40\n\n\nCALGARY, July 17 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is\npleased to announce that it has signed a 6 months sales contract with Shaanxi\nFunong Alfalfa Feeds Co. Ltd., PRC ("Shaanxi Funong"), to purchase a variety\nof Maple Leaf's tree seedlings for $10 million RMB (approximately $1.5 million\nCanadian). Shaanxi Funong is located in Funong city, Shaanxi, and is a local\nprivately owned company in the feed business.\n\n\nUnder the sales contract, Shaanxi Funong will purchase approximately 7.74\nmillion seedlings in 3 separate deliveries beginning in September 2007 through\nto February 2008. The 7.74 million seedlings purchased will include a variety\nof existing seedlings currently under cultivation within Maple Leaf's nursery\nfacilities. The seedlings sold are varieties of Colorado Spruce (5.25\nmillion); White Pine (98,000), White Spruce (100,000), Jack Pine (1 million),\nChinese Pine (200,000), Scots Pine (610,000), Northern China Larch (325,000),\nNorway Spruce (10,000), Red Pine (80,000) and Red Maple (75,000). The total\nvalue of each delivery will be approximately $3.5 million RMB (approximately\n$500,000 Canadian), and Shaanxi Funong 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 large sales contracts are coming in at a steady rate, with almost\n$6.5 million Canadian under contract thus far. Maple Leaf's new management\nteam is quite confident that increased sales will utilize Maple Leaf's\ngreenhouse to its full capacity.\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\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 including (i) statements that may\ncontain words such as "anticipate", "could", "expect", "seek", "may" "inte...