Maple Leaf Green World Inc (NEO:MGW & OTCQB:MGWFF) has closed the second tranche of its previously announced non-brokered private placement, which was conditionally approved by the Aequitas NEO Exchange. on June 12, 2018, and previously announced in its press release dated June 1, 2018. The company has received subscriptions in the amount of $478,200 in this tranche. The company has issued an aggregate of 797,000 units of Maple Leaf at a price of 60 cents per unit for aggregate gross proceeds of $478,200 for the second tranche of the offering. Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of 90 cents up until and including June 15, 2020.
The offering is subject to the receipt of final approval of the NEO Exchange. The securities issued under the offering are subject to a four-month hold period in accordance with applicable Canadian securities laws. As previously disclosed in Maple Leaf’s press release dated June 1, 2018, the corporation will pay to certain finders a fee equal to 7 per cent of the proceeds raised from subscribers to the offering introduced to the corporation by such finders. Payment of such fees will be made upon closing of the final tranche of the offering. The company intends to use the net proceeds of the offering to advance its engineering and construction plans for its cannabis cultivation facilities in Telkwa, B.C., and Henderson, Nev., and for general corporate purposes.
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 eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products. Maple Leaf’s long-term objective is to produce cannabis oil and to export its products to approved countries.