World News: 13:30 GMT Wednesday 15th May 2019. [Maple Leaf Green World Inc. via Globe Newswire via SPi World News]
CALGARY, Alberta, May 15, 2019 (GLOBE NEWSWIRE) -- --Maple Leaf Green World Inc. (“” or the “”) () is pleased to announce that the Licensing and Medical Access Directorate, Controlled Substances and Cannabis Branch of Health Canada has completed a preliminary and high-level review of the Company’s Standard Cultivation and Standard Processing licences application. Based on the information assessed, Health Canada has no critical concerns with the application at this time. This review was limited in scope and included a verification of the licence class or subclass applied for, site address, and corporate structure.
In addition, the recent change of Health Canada’s license application requirement, which requires new applicants to have a facility in readiness before Health Canada will process their application, does not affect the Company; instead, it provides a more secured position for the Company in the application process, as confirmed by the request the Company has received, as above.
The Company is pleased to announce that it has closed the first tranche of its previously announced private placement financing (“the Financing”). The Company has issued a total 1,450,000 common shares at a price of $0.13 per share for total proceeds of $188,500. The Company has also issued 387,096 common shares at a price of $0.155 per share for settlement of debt with Woodmere Nursery Ltd. in the amount of $60,000.
In connection with the closing of the first tranche of the Financing, the Company has no finders’ fees payable. The fund received from the Financing will be used for general corporate purposes.
For further information regarding the Company, please visit .
Maple Leaf is a public Canadian company that focuses on the cannabis industry in North America. The Company currently has cannabis projects in British Columbia and California. With over 10 years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free cannabis products. Maple Leaf’s long-term objective is to produce cannabis oil and to export its products to approved countries. The Company’s common shares are listed for trading on the Aequitas NEO Exchange Inc. under the symbol “MGW” and on the OTCQX market under the symbol “MGWFF.”
Victoria Bosticvbostic@mlgreenworld.com +1(604)849-4500
Corporate Communications:NetworkWire (NW)New York, New York212.418.1217 Office
Globe Newswire: 13:30 GMT Wednesday 15th May 2019
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