Business
Maple Leaf Starts Construction Planning of its B.C. MJ Project and Updates the Use of Funds from its Previously Announced Financing
Maple Leaf Starts Construction Planning of its B.C. MJ Project and Updates the Use of Fund...
About this update from Maple Leaf Green World, Inc.
[{"type":"text","content":"\n\n\n\nMaple Leaf Starts Construction Planning of its B.C. MJ Project and Updates the Use of Funds from its Previously Announced Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 13, 2017\n\n\n\n(TSX-V: MGW,  OTCQB: MGWFF) March 13, 2017 - $0.58\n\n\n\nCALGARY, March 13, 2017 /CNW/ - Maple Leaf Green World (MGW-V) (\"Maple Leaf\" or the \"Company\") is pleased to announce that the Company's management team and its consultant; TheraCann; a leading full service international marijuana consultancy, have recently completed a site visit of the Company's Telkwa, B.C. greenhouse complex for the preparation of its ACMPR application for pre-licensing inspection. After this site visit, Maple Leaf has decided to construct a new facility on the vacant land of 33 acres available, instead of renovating the existing greenhouse facility. Constructing a new greenhouse facility will not only allow the Company to use the latest technologies and processes, it will also increase the production per square meter of floor space and significantly reduce the production costs associated with the use of a conventional greenhouse. The Company has engaged TheraCann to plan, design and construct the new facility.\n\nIn order to maintain the Company's position in the Health Canada's inspection queue, the Company plans to commence the development of the new facility as soon as possible, with the ultimate goal of obtaining our production license in the last quarter of 2017. \n\nSubject to conditional acceptance from the TSX Venture Exchange, the funds from the Company's proposed private placement (previously announced on February 27, 2017) will be used mainly for this project in British Columbia, except for the funds (approximately CAD $1 million) committed to purchase 4 acres of land in Henderson, Nevada.  No funds from this private placement will be used to acquire any cultivation or production permit in Nevada, without all required regulatory and/or shareholder approvals.\n\nFor further information regarding Maple Leaf Green World Inc., pl...