Maple Leaf Green World Inc. announced that it intends to complete a non-brokered private placement for gross proceeds of up to $1,100,000 through the issuance of up to 20,000,000 units at a price of $0.055 per Unit. Each Unit is comprised of one (1) common share in the capital of the Company and one (1) transferable Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to acquire one (1) Common Share to be issued on the due exercise of the Warrants (each, a “Warrant Share”) at a price of $0.08 per Warrant Share for twenty-four (24) months from the date of the closing of the Private Placement.
A finder’s fee may apply to a portion of the proceeds raised under the Private Placement of a cash commission equal to 7% of the aggregate gross proceeds from the sale of the Units under the Private Placement, and finders’ warrants equal to 7% of the number of Units sold under the Private Placement, exercisable for Units of the Company. All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue. Proceeds from the Private Placement will be used by the Company for:
- Expansion of the Company’s current cultivation facility in Riverside, California in order to accommodate the Joint Venture project with Swissx and maintain the Company’s current cultivation program of developing a new Hemp strain;
- Company’s vertical integration expansion by acquiring another Hemp processing facility;
- Marketing and promoting the Company’s Phoenix Crave brand products and;
- Working Capital.
Closing of the Private Placement is subject to all customary regulatory and board approvals of the Company.
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/.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that is focused on the hemp industry in North America. The Company currently has a hemp project in Southern California.