(TSX-V: MGW, OTCQB: MGWFF)
May 31, 2017 - $0.495
CALGARY, May 31, 2017 /CNW/ - Maple Leaf Green
World Inc. (TSXV: MGW) ("Maple Leaf" or the
"Company") is pleased to announce that it has retained
Cannabis Compliance Inc. ("CCI") to expedite its ACMPR
application for a license to produce medical cannabis from Health
Canada (the "ACMPR License"). The Company's objective is to
obtain the ACMPR License from Health Canada before the end of this
year.
CCI, as one of Canada's
original cannabis consulting firms, offers risk mitigation, due
diligence, and regulatory licensing consulting services for
commercial cannabis producers and resellers. CCI has extensive
expertise in cultivation/horticulture, security designs/tender,
facility designs/build-outs, quality assurance programs, and
financial planning. CCI has strategic partnerships globally to
secure investment partners for its clients, general contractors for
buildouts, security tenders, equipment suppliers, media, government
relations, and enterprise resource planning software. For over a
decade, CCI's experienced team has been involved in commercial
cannabis operations in Canada
delivering proven results for their clients.
As a result of the Company's engagement of CCI, Maple Leaf has
agreed to not move forward with its previously announced
arrangement with TheraCann International Benchmark Corporation
respecting the design, engineering, and construction of its
cannabis cultivation facilities in Telkwa, B.C.
Health Canada Streamlines Medical Cannabis Production
Licensing Process
Health Canada has announced
that they will now be expediting the medical cannabis licensing
process in order to get more applicants licensed in a timely
manner. Health Canada has
strategically reviewed the licensing process and made constructive
changes that will help applicants attain licenses in order to
supply Canada's medical cannabis
market. Maple Leaf Green World Inc. understands companies that are
already in queue with Health Canada will see their applications
move faster through the review stages and will attain a license to
sell earlier under this new review protocol.
For further information regarding Maple Leaf Green World Inc.,
please visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the
cannabis industry in North
America. With over 10 years of extensive greenhouse
management experience, it applies its eco-agriculture knowledge and
cultivation technology to produce contaminant-free organic cannabis
products. Maple Leaf's long-term objective is to produce cannabis
oil and export its products to approved countries.
Cautionary Statement
This press release includes certain statements that may be
deemed "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Specifically, this
press release includes, but is not limited to, forward-looking
statements with respect to the expected benefits of the Company's
engagement of CCI, the streamlining of Health Canada's ACMPR
license review process, and anticipated approvals of the Company's
application for a license under the ACMPR. Generally,
forward-looking statements can be identified by the forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "projects",
"intends", "anticipates", or "does not anticipate", or "believes",
or "variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might",
or "will" be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties,
and other factors that may cause the actual results, level of
activity, performance, or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the development and operation of the Company's projects,
risks associated with general economic conditions, adverse industry
events, marketing costs, loss of markets, future legislative and
regulatory developments involving medical cannabis, inability to
access sufficient capital from internal and external sources and/or
inability to access sufficient capital on favourable terms, the
medical cannabis industry in Canada and the jurisdictions where the Company
operates generally, income tax and regulatory matters, competition,
crop failure, currency and interest rate fluctuations, regulatory
approvals including approvals from the Health Canada of the
Company's ACMPR license application, and those factors discussed in
the sections relating to risk factors of our business filed in the
Company's required securities filings on SEDAR. Although the
Company has attempted to identify important factors that could
cause results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements will prove accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with
applicable securities laws. The statements in this press release
are made as of the date of this press release. The Company
undertakes no obligation to comment on analyses, expectations, or
statements made by third parties in respect of the Company and CCI
and the description of CCI in this press release was provided by
CCI.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Maple Leaf Green World Inc.