Maple Leaf Receives $4.8 million in Subscriptions for Private Placement

Maple Leaf Green World (TSXV:MGW; OTCQB:MGWFF). has received subscriptions for 8,783,382 units ($4,830,860) in respect of its previously announced (see the company’s news release dated March 17, 2017) non-brokered private placement of up to 11 million units at 55 cents each ($6-million). The company is applying to the TSX Venture Exchange for conditional acceptance of its private placement and intends to close on the subscriptions received upon receipt thereof. Each unit offered under the private placement consists of one common share of Maple Leaf and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at an exercise price of 85 cents for two years from the date of issue.
All securities to be issued under the private placement (upon acceptance by the exchange) will be subject to restrictions on resale for a specified period of not less than four months after closing. The net proceeds of this financing will be used to advance the company’s B.C. medical marijuana project and for general corporate purposes.
About Maple Leaf Green World Inc.
Maple Leaf Green World is a public Canadian company that focuses on the cannabis industry in North America. With over 10 years of extensive greenhouse management experience, it applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products.
Click here to connect with Maple Leaf Green World (TSXV:MGW; OTCQB:MGWFF) to receive an Investor Presentation.