Maple Leaf Green World Inc. ("Maple Leaf" or the "Company") (TSX-V: MGW, OTCQB: MGWFF) is pleased to announce that MMP Structural Engineering Ltd., a structural engineering firm in Calgary, Alberta with over 39 years of experience, is acting as the Company's project manager for Maple Leaf's cannabis cultivation facility in Telkwa, British Columbia (the "Telkwa Facility") and has submitted the building permit application to the Regional District of Bulkley-Nechako. If the application meets the Regional District of Bulkley-Nechako's approval, a permit for construction of the foundation of the Telkwa Facility will be granted to the Company. While Maple Leaf waits for the foundation permit, ground clearing will begin as soon as possible. Materials for the envelope and exterior of the Telkwa Facility have arrived at the site of Paramount Structures Inc. ("PSI") and will be ready for the pre-fabrication process. PSI is responsible for the exterior and envelope of the Telkwa Facility.
A Letter of Intent has also been signed with Woodmere Nursery Ltd. ("Woodmere") to lease 30 acres of land where the Telkwa Facility will be situated. The major terms are as follows:
1. A leasing fee of $20,000 a month or $240,000 a year beginning October 1, 2017 for 20 years with adjustments every 5 years based on the Consumer Price Index; 2. Maple Leaf will have the option to purchase the 30 acres of land from Woodmere after 1 year at the prevailing market price or at a minimum of $500,000; and 3. Maple Leaf will grant 500,000 share options at $0.55 to Woodmere for 2 years and the options will vest after 1 year.
A formal leasing agreement will be prepared by Woodmere's legal counsel in due course.