CALGARY, Alberta, Nov 30, 2022 – Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”), (CSE: MGW) and (OTCQB: MGWFF), is pleased to provide the following update on its REIT investment project in the Cayman Islands.
On November 9, 2022, the Company announced that it had secured $200,000 CAD for its investment with QUIC Builds (the “Builder”, “REIT Manager”) to begin construction on the first two (2) luxury mini homes (the “Property”, “Properties”) in the Cayman Islands. The Company initially transferred $100,000 CAD to begin the process on the first two (2) Properties and has now transferred the remaining $100,000 CAD to fully fund the construction of four (4) Properties. Each Property is situated on a quarter acre lot with a private swimming pool in a guarded community. The REIT Manager has reported that the foundation has been poured and framing will begin early next week. The four (4) Properties are currently on schedule to be completed early February 2023 and available for rental by March. The Builder can expedite construction by utilizing their patented Quic Build panel and block technology to reduce construction time by 80%. The patented panel and block technology has been approved by local government and will be assembled at a local factory.
The Company retains the option to contribute up to $5,000,000 CAD over the next twenty-four (24) months to develop up to 60 Properties across the Cayman Island and Turk & Caicos Islands. The Company’s capital contribution will be secured by a ninety eight percent (98%) ownership of land titles and properties developed. The Company will continue as a passive investor until it decides to exercise its option to take ownership of the project in which the Company will manage the rental or sale of the Properties.
For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.
For updates regarding the California CBG Hemp Project, please visit https://www.gsgreenworld.com/.
For ReNao Wellness products, please visit https://www.renaowellness.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that is focused on the health and wellness industry in North America and China. The Company currently has a hemp project in Southern California and an essential oil project in China. With over 10 years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free hemp products. Maple Leaf’s long-term objective is to produce hemp and essential oils for North America and international markets. The Company’s common shares are listed for trading on the Canadian Securities Exchange (“CSE”) under the symbol “MGW” and on the OTCQB market under the symbol “MGWFF.”
Forward Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning: the Proposed Transaction and the timing thereof; When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company that include, but are not limited to, the timely receipt of all required regulatory and third-party approvals, including approvals from the CSE and from the shareholders of Maple Leaf. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals, including approvals from the CSE and from the shareholders of Maple Leaf, not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2020 and management’s discussion and analysis (“MD&A”) thereof for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.
Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
For further information, please contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO