Maple Leaf Green World has provided the following Corporate update:
California – Hemp Seed Cultivation
The Company is preparing the two greenhouses at its Riverside, California facility to start cultivating Hemp for CBD enriched Seed production as a starting point for the Company’s Hemp Cultivation initiative announced in its August 29, 2019 press release. "The two greenhouses are in good operational condition and can start up the Hemp Seed cultivation program immediately with some minor adjustments," the team with the company explains. "The two greenhouses provide about 6,000 sq. ft indoor space to produce about 350 pounds of CBD enriched Seeds every 2 months. The Company has also planned to install 2 to 4 more greenhouses once the cultivation in these 2 greenhouses are underway, and to utilize the remaining open space of the 20 acres land to grow Hemp outdoor starting in the summertime of 2020."
"The Hemp Seed produced will be either sold to the Lin International as announced in the September 17, 2019 press release or to any customers across U.S.A. The current average selling price for CBD enriched Hemp Seed in U.S.A. is about US$3,500 a pound."
Telkwa, B.C. Facility – Financing
The Company has retained Helixx Enterprises exclusively to secure a debt financing for completing its Telkwa facility and acquisition of Woodmere Nursery. "The amount of financing is up to a maximum 70% cost or 65% of total appraised value, whichever is lower, estimated at CAD$11,200,000. Helixx has already couple lenders interested in doing the deal," they further explain.