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CALGARY, Nov. 9 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is
pleased to announce that it has finalized a sale of 26,611 Red Pine seedlings
to Jixi Green Seedling Company Ltd. ("Jixi") in the Hei Long Jiang Province in
Northeast China.
Under the terms of the sales contract, Jixi will purchase all of the Red
Pine seedlings (approximately 26,611) currently in inventory at Maple Leaf's
nursery facility in Inner Mongolia for a price of $1.00 RMB ($0.142 CAD) per
Red Pine seedling. Jixi has paid to Maple Leaf a 20% deposit for the Red Pine
seedlings with the balance of the purchase price paid upon delivery in the
spring of 2007. This is when the seedlings can be out planted, as winter has
already arrived in this part of Northeast China.
Management is pleased with this contract as this initial purchase starts
the process of Maple Leaf selling seedlings to various private business and
government agencies in accordance with our business model. Mr. Clarke,
Chairman & CEO, adds this initial sale of seedlings to Jixi at $1.00 RMB
($0.142 CAD) per seedling, allows Maple Leaf to make a good profit margin from
the sale. Furthermore, this sale is a small ongoing step in the right
direction in guiding Maple Leaf towards a profitable company with strong cash
flow.
Maple Leaf's primary mission is to provide top quality, value added
nursery seedlings and services for reforestation and landscaping projects in
China through a 100% Wholly Owned Foreign Enterprise registered company.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Statements in this release which describe Maple Leaf's intentions,
expectations or predictions, or which relate to matters that are not
historical facts are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties which may cause
the actual results, performances or achievements of Maple Leaf to be
materially different from any future results, performances or achievements
expressed in or implied by such forward-looking statements. Maple Leaf may
update or revise any forward-looking statements, whether as a result of new
information, future events or changing market and business conditions.
