News Release - “The Dutch are Coming” lol Maryhill
Maple Leaf Green to receive consultation from DHC
2019-03-19 16:12 ET - News Release
Mr. Raymond Lai reports
MAPLE LEAF ENTERS INTO A CONSULTING AGREEMENT WITH DHC B.V.
Maple Leaf Green World Inc. has entered into a consulting agreement with Dutch company DHC BV. There are two main areas in the agreement
Assisting the company to obtain financing
Pursuant to the agreement, DHC will introduce persons and entities that might be interested in participating in one or more share, preferred share or other share debt or convertible debt financing(s) of Maple Leaf of $10-million dollars. Upon completion of the financing, DHC will work with Maple Leaf to complete and secure the federal licences for the Telkwa facility, optimize the design of the Telkwa facility within the already realized construction and circumstances, and supervise the cultivation activities of Maple Leaf projects.
Upon successful closing of the financing, Maple Leaf has agreed to issue five million shares of Maple Leaf's capital to DHC at a fixed price of 20 cents per share in the proportionate share of the amount of funds received by Maple Leaf (one first financing share will be issued for every $2 received by Maple Leaf from the financing). There will be no further compensation paid to DHC or any of its associates in relation to the financing and DHC will bear all of its own expenses in connection with the financing, except as may be otherwise preapproved by Maple Leaf in the sole discretion of Maple Leaf.
Managing the company's cultivation activities aiming to increase the production yield and improve product quality
DHC has also agreed to work with Maple Leaf in completing and licensing of the Telkwa facility, including reasonable changes to its design or equipment and cultivation of cannabis. The targets for the production of Cannabis shall be determined between Maple Leaf and DHC at a later date and included as an addendum to the agreement. Such targets will be decided between Maple Leaf and DHC after the Telkwa facility becomes operational and targets for first two crops will be set.
In consideration of a favourable outcome of the first target and second target, Maple Leaf has agreed to issue to DHC a further 10 million shares (five million for each of the first target and second target) in the capital of Maple Leaf.
The issuance of all financing shares will be subject to approval of NEO Stock Exchange and withholding taxes pursuant to the Income Tax Act (Canada).
Maple Leaf will be the sole owner of any intellectual property specifically developed by DHC for implementation in a Maple Leaf facility during the course of DHC's involvement with Maple Leaf.
About DHC BV
DHC is a Dutch joint venture of DHP and HGA Garden, combining HGA's technical know-how, product development and production with DHP's 30 years of experience in large-scale cultivation operations. This new Dutch combination, DHC, therefore makes use of many years of experience in various areas of professional horticulture, resulting in providing the state-of-the-art facilities with incomparable yields. DHC is specifically set up to focus on the emerging market of large-scale cultivation of cannabis and is continuously and passionately looking for innovation, efficiency and optimization.
"We are excited by entering into a tight business relationship with DHC; they are not only assisting us to raise the necessary funding with their international connections, we can also be ensured that our facilities are not only set up according to the latest standards of professional horticulture, but also that our crops are supervised by professional experts, leading to high-quality yields," said Raymond Lai, president and chief executive officer of Maple Leaf.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the cannabis industry in North America. The company currently operates cannabis projects in British Columbia and Nevada. With over 10 years of extensive greenhouse management experience, the company applies its ecoagriculture knowledge and cultivation technology to produce contaminant-free cannabis products. Maple Leaf's long-term objective is to produce cannabis oil and to export its products to approved countries.
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