(TSX-V: MPE)
Shares Issued: 55,931,980
Last Close: 12-11-2007 $1.13
CALGARY, Dec. 11 /CNW/ - Maple Leaf Reforestation ("Maple Leaf") would like to inform its shareholders of a change to the amount of the funds raised from the recently announced private placement. On November 27, 2007 Maple Leaf announced that it had raised, subject to TSXV approval, $2,290,000.00 through the issuance of 1,526,667 common shares at $1.50. Unfortunately, one subscriber was unable to fulfil the required financial obligations before the deadline. As a result, the new total raised from the private placement is $2,170,000.00, through the issuance of 1,446,667 common shares. Maple Leaf will not be taking any action with regards to enforcing this unmet obligation. Maple Leaf is still in the process of obtaining final approval of the private placement from the TSXV.
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.