By Ryan Allway
Maple Leaf Green World (TSX-V: MGW), an agricultural and environmentally focused company pursuing an MMPR license in Canada, recently announced that it has raised $485,000 of a $500,000 brokered private placement. Each unit offered under the private placement includes one common share and one common share purchase warrant with an exercise price of $0.15 and a two-year expiration.
The company will use the proceeds from the transaction to advance many different projects targeting the cannabis industry.
In Canada, the company has applied to become a licensed producer under the Marijuana for Medical Purposes Regulations (MMPR). The government has been notoriously slow to approve MMPR applicants, but incoming Prime Minister Justin Trudeau has taken a much more proactive and positive stance on the burgeoning cannabis industry. The company has an agreement with Woodmere Nursery Ltd. to lease a greenhouse facility when approved.
In the U.S. the company is pursuing numerous opportunities in states where marijuana has been recreationally or medically legalized. It currently joint ventured with a California non-profit collective to setup a growing facility. Construction has already begun on the project after two newly designed cold frames arrived on site in December of last year. Once successful, management hopes to use the same model across Canada.
The company also has projects in renewable energy and eco-agriculture around the world, with a focus on China’s rapidly growing market.
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