(TSX-V: MPE)
Shares Issued: 48,896,477
Last Close: $1.00
CALGARY, Aug. 9 /CNW/ - Due to the increasing volume of sales Maple Leaf has received in the last few months, the management of Maple Leaf foresees full capacity utilization of its greenhouse in Inner-Mongolia in the near future. As sales forecasts for the next couple years also appear promising, Maple Leaf has decided to build a second greenhouse adjacent to its first. A preliminary feasibility study has been conducted by a well known greenhouse construction company in Beijing. The second greenhouse, which will be 150,000 sq ft, will be 4,000 sq ft larger than the first greenhouse and will have the capacity to cultivate 8.5 million seedlings at one time. The total cost of constructing the greenhouse should be around $1 million (Canadian). With this addition, Maple Leaf will more than double its production capacity for growing seedlings, improve the efficiency of its operations and significantly reduce production costs, consequently making Maple Leaf's seedlings more competitive.
Maple Leaf's management is very excited about construction of the new greenhouse, and a more detailed plan is presently being prepared. Once funding for the new greenhouse is secured, work can be started. It is expected that the duration of the construction will be 2 to 3 months, in time for the 2008 spring cultivation.
Maple Leaf's primary mission is to provide top quality, value added nursery seedlings and modern Canadian tree growing technology to assist China in solving its desertification problems. Maple Leaf currently has over 6,000,000 various types of seedlings under cultivation in our 110,000 square foot greenhouse.
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 therefrom. Subject to applicable law, Maple Leaf disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
All forward-looking statements contained in this document are expressly qualified by this cautionary statement. Further information about the factors affecting forward-looking statements is available in other disclosure documents of Maple Leaf which have been filed with Canadian provincial securities commissions and are available on www.sedar.com.