(TSX-V: MPE)
Shares Issued: 47,184,227
Last Close: 06-06-2007 $0.30
CALGARY, June 7 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf") is pleased to announce that the company has signed a sales contract (the "Sales Contract") for $6,200,000 RMB (approximately $850,000 CAD) with Sanya Zhonghai Fishing Co. Ltd. ("Sanya Zhonghai"), PRC, to purchase a variety of the Company's tree seedlings.
Under the Sales Contract, "Sanya Zhonghai", located in Sanya City, Hainan Province, a local privately owned company in the businesses of fishery, forestry and agriculture, will purchase starting in September 2007 through to September 2008, approximately 6,315,000 seedlings in 3 separate deliveries. In September 2007, the 2,105,000 seedlings purchased will be a variety of existing seedlings currently under cultivation within the Company's nursery facilities. The seedlings sold are varieties of Colorado Spruce (1,008,000), White Pine (45,000), White Spruce (7,000), Jack Pine (390,000), Larch (210,000), Scots Pine (445,000). Subsequent deliveries in early 2008 and September 2008 will be propagated inside the greenhouse and grown to 20-30 centimeters to fulfill the varieties of 2,105,000 seedlings to complete each delivery for the Contract. Under the Contract, Sanya Zhonghai is required to make cash payment to the Company's bank account prior to the shipment of each delivery of seedlings.
Mr. Clarke, Chairman & CEO of Maple Leaf, is pleased that this "large sales contract," allows the Company to sell many of its existing seedlings, thereby reducing its current inventories. The inventory turn over resulting from the Sales Contract also enables the Company to commence a scheduled planting cycle for its greenhouse operations. In addition, the pre-purchase orders under the Contract enables the Company to plan its growing schedules for late 2007 and early 2008.
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. Maple Leaf currently has over 6,000,000 various types of seedlings under cultivation in our 110,000 square foot greenhouse facility.
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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 the 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 the 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.