(TSX-V: MPE)
Shares Issued: 53,806,980
Last Close: 12-05-2007 $0.85
CALGARY, Dec. 6 /CNW/ - Maple Leaf Reforestation ("Maple Leaf") and its Xinjiang Yellowhorn Project (the "Project") manager, Ms. Zhen Chen, are pleased to report that the initial advancement of $370,000 CAD has led to the following updates:
1. Maple Leaf has received 100,000 Yellowhorn seeds. A portion of these
seeds have been sent to a leased greenhouse facility in Sanya,
Hainan Island of southern China where they will be cultivated. Once
these seeds reach seedling height, they will be shipped back to
Xinjiang to be planted outside. Another 500,000 seeds have been
ordered and are expected to be delivered in the near future.
2. Maple Leaf is also in the process of erecting several temporary
greenhouse tents in Xinjiang which will be utilized to germinate
additional Yellowhorn seeds.
Maple Leaf would also like to comment on the current market situation relating to Yellowhorn cooking oil. There has seemingly been a dramatic increase in the international demand for the product since the initial announcement of the Project on October 15, 2007. The market price for the cooking oil has increased from 40 RMB (approximately $5.50 CAD) per kilogram to over 200 RMB (approximately $27.50 CAD) per kilogram. Maple Leaf has already been contacted by several internationally situated companies regarding potentially making advanced bookings for the Project's 2008 production.
Maple Leaf would also like to announce that they have received approval from the Jilin Saar County of Xinjiang to increase its plantation area from 400,000 MU (or 68,000 acres) to 1 million MU (or 170,000 acres). This decision was greatly influenced by the Beijing, China State Council's recent announcement that they have increased government funding for desertification programs.
Finally, Maple Leaf is pleased to announce that it has decided to sponsor a new anti-desertification foundation charity fund by donating 1 million RMB (approximately $140,000 CAD) to this foundation. Mr. Raymond Lai, President & CEO of Maple Leaf, will be appointed as the Honorable Chairman of this foundation. The foundation will be run by various Central China government officials. The foundation will be named "China Green Environment - Maple Leaf Anti-Desertification Foundation Fund". Money raised by this foundation will primarily be used by Maple Leaf in conjunction with the Project. Various Chinese government media will be hosting an event on December 23, 2007 to announce this initiative. Mr. Raymond Lai will be present at the opening event in order to express Maple Leaf's commitment to China's effort of combating desertification and preserving a greener environment.
Mr. Raymond Lai is very pleased that the Project has continued to proceed on schedule. He is also very excited about his upcoming trip to China. He hopes that in addition to finalizing the Project details and executing the Project agreement, he will be able to further develop Maple Leaf's relationship with many of China's most prominent government officials.
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 its 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.