Last Close: April 6, 2009 - $0.11 Shares Issued: 56,511,127
CALGARY, April 7 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is pleased to announce the signing of four letters of intent ("LOI") during the month of March for a total value of Cdn $1.13 million (6.2 million Rmb). The selling price for the organic fish meal is Cdn $364 (2000 Rmb) per tonne. Deliveries will start on April 15, 2009 and subsequent deliveries will be made at the request of the purchasers. Payments will be made monthly to Maple Leaf:
1. Valued at Cdn $218,000 (1.2 million Rmb), Maple Leaf will supply in 5
shipments, 600 metric tonnes of fish meal to the 7th Lake Fish Farm
of Datong Lake Fish Farm owned by Hunan Dongting Aquaculture Co.
Ltd., a Chinese public company that has 800,000 mu (approx. 1.2
million acres) of fish farms.
2. Valued at Cdn $364,000 (2 million Rmb), Maple Leaf will supply in 10
shipments, 1,000 metric tonnes of fish meal to the 2nd Xihu Fish Farm
owned by Hunan Dongting Aquaculture Co. Ltd.
3. Valued at Cdn $364,000 (2 million Rmb), Maple Leaf will supply in 10
shipments, 1,000 metric tonnes of fish meal to Qili Lake Fish Farm,
Jin City, Hunan Province.
4. Valued at Cdn $182,000 (1 million Rmb), Maple Leaf will supply in 5
shipments, 500 metric tonnes of fish meal to Baimin Lake Fish Farm,
Li county, Hunan Province.
On March 27, 2009 Maple Leaf announced the signing of three contracts from its greenhouse operations signed during the month of March for a total value of Cdn $553,700 (3,045,000 Rmb). The combined value of contracts and LOI signed during March totals Cdn $1,683,700 (9,245,000 Rmb).
Mr. Raymond Lai, President and CEO comments, "I am pleased to announce this new revenue stream from Maple Leaf's organic fertilizer plant as part of our vision to diversify into other environmental businesses".
About Maple Leaf Reforestation Inc.
Maple Leaf is a Canadian company operating four environmental related
projects in China:
1. a large-scale forest nursery in Inner Mongolia which is focused on
growing value-added tree seedlings and alfalfa feedstock alongside
landscaping and nursery products;
2. a multi-faceted Xinjiang Yellowhorn tree project which will provide
for the manufacture of bio-diesel fuel and cooking oil and complement
the fabrication of the ever demanding nutritious alfalfa feedstock;
3. an organic fertilizer plant in the Hunan Province which will produce
environmentally friendly bio-organic fertilizer; and
4. a Flexi-Pipe distribution network to serve the oil and gas industry
and other renewable energy industries.
Maple Leaf is a wholly-owned foreign enterprise which allows Maple Leaf to
control 100% of the direction and operations of the company in China while
permitting the cash generated from operations in China to flow back to Canada.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Certain statements in this news release including (i) statements that may contain words such as "anticipate", "could", "expect", "seek", "may" "intend", "will", "believe", "should", "project", "forecast", "plan" and similar expressions, including the negatives thereof, (ii) statements that are based on current expectations and estimates about the markets in which Maple Leaf operates and (iii) statements of belief, intentions and expectations about developments, results and events that will or may occur in the future, constitute "forward-looking statements" and are based on certain assumptions and analysis made by Maple Leaf. Forward-looking statements in this news release include, but are not limited to, statements with respect to future capital expenditures, including the amount, nature and timing thereof; other development trends within the China's seedling industry; business strategy; expansion and growth of Maple Leaf's business and operations and other such matters. Such forward-looking statements are subject to important risks and uncertainties, which are difficult to predict and that may affect Maple Leaf's operations, including, but are not limited to: the impact of general economic conditions; industry conditions; government and regulatory developments; seedling product supply and demand; competition; and Maple Leaf's ability to attract and retain qualified personnel. Maple Leaf's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do transpire or occur, what benefits Maple Leaf will derive there from.
Maple Leaf has identified that it will receive certain amounts of funds monthly for organic fish meal which will be delivered to the parties that it has contracted with. It is not certain that Maple Leaf will ever receive these amounts, as the contracting parties have only entered 'letters of intent', thus legally binding purchase agreements have not yet been formally entered. As such, Maple Leaf is not guaranteed to receive any such payments. Maple Leaf does anticipate that it will receive funds equal to the amounts indicated above over the course of the deliveries to each purchaser, however obtaining the full amounts will depend on the purchaser's satisfaction with the initial product and their desire to receive and pay for subsequent deliveries.
Maple Leaf maintains a forward-looking statement database which is reviewed by management on a regular basis to ensure that no material change has occurred with respect to such forecasts. The Company will publicly disclose such material changes to its forward-looking statements as soon as they are known to management.