News
Maple Leaf Makes Shipments and Receives May Revenues
(TSX-V: MPE)Last Close: June 10, 2009 - $0.10
Shares Issued: 61,586,627
Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Corporation") is pleased to announce that its revenue for the month of May was $94,000 Cdn (560,000 Rmb) and was received in connection with the following:
Inner Mongolia Greenhouse
The Company shipped out approximately 445,000 seedlings to various customers including 17,000 seedlings to Henan Village, 5,000seedlings to Zhouquan Village in connection with the contracts announced in March 2009 and 148,500 seedlings to Guyang County Forestry station in connection with the contract signed in December 2008.The balance of 274,500 is shipped to other regular customers. Total revenue from these shipments was $50,000 Cdn ($297,000 Rmb).
The Company is presently preparing to begin cultivation of 5 million seedlings which will be used to fulfill the contract that it signed with the Inner Mongolia. The Company anticipates that shipment of these seedlings will begin in September 2009.
In June 2009, the Company will be utilizing the services of its technical consultant, Mr. Wayne Smith, to assist with presentations about the Company’s greenhouse operations and seedling production capabilities at various trade shows in the Shanxi Province.
Hunan Organic Fertilizer Plant
The Company shipped out 25 tons of fish meal to 2nd Xihu Fish Farm, 55 tons of fish meal to Qili Lake Fish Farm and 20 tons of fish meal to Baimin Lake Fish Farm, in connection with the contracts announced in April 2009.
The 100 total tons of fish meal represents the first commercial production from the Company’s organic fertilizer plant. The Company’s production target is to achieve 1,000 tons a month of production during 2009.
The fish meal was sold to the various customers at $433 Cdn (2,600 Rmb) a ton, for total revenue of $44,000 Cdn (263,000 Rmb). Feedback from these customers has been very positive, indicating that following consumption of the Company’s product, the fish have grown 100% more in the first month than is typically expected in the fish farm industry in China.
Xinjiang Alfalfa Operation
Due to extremely rainy conditions in the western China region, the Company did not harvest any raw Alfalfa for processing during May and has therefore bumped its planned May shipments to June.
Raymond Lai, President & CEO of Maple Leaf comments, “I am pleased that the Company continued to see a steady stream of revenue during the month of May. It is unfortunate that weather conditions were not better for our Alfalfa operations, however everything is status quo with this project and operational conditions have been steadily improving in June. I am also very encouraged by the feedback from our fish meal customers, and I am looking forward to seeing increased production at the Organic Fertilizer Plant now that we have a more stable level of operational capital.”
About Maple Leaf Reforestation Inc.
Maple Leaf is a Canadian company operating a large-scale forest nursery whose primary focus is growing value- added tree seedlings and alfalfa feedstock alongside landscaping and nursery products in China. In addition, the multi-faceted Xinjiang Yellowhorn tree project will provide for the manufacture of biodiesel fuel. Reforestation has been identified as a critical strategy to help manage China’s troubling environmental issues, namely pollution and desertification. Maple Leaf currently has over 6 million varieties of seedlings under cultivation at its nursery facility that includes a 110,000-square foot greenhouse located in Liang Cheng, Inner Mongolia, China.
Maple Leaf is a wholly-owned foreign enterprise ("WOFE"), which allows Maple Leaf to control 100% of the direction and operations of the company in China while permitting the cash generated from operations in China to flow back to Canada.
For further information regarding Maple Leaf Reforestation Inc., visit www.mlreforestation.com or contact:
Maple Leaf Reforestation Inc.
Raymond Lai, Chairman, President & CEO
Tel: +1 (403) 668-7560 Fax: +1 (403) 250-2534
E-mail: rlai@mlreforestation.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements in this news release including (i) statements that may contain words such as "anticipate", "could", "expect", "seek", "may” "intend", "will", "believe", "should", "project", "forecast", "plan" and similar expressions, including the negatives thereof, (ii) statements that are based on current expectations and estimates about the markets in which Maple Leaf operates and (iii) statements of belief, intentions and expectations about developments, results and events that will or may occur in the future, constitute "forward-looking statements" and are based on certain assumptions and analysis made by Maple Leaf. Forward-looking statements in this news release include, but are not limited to, statements with respect to future capital expenditures, including the amount, nature and timing thereof; other development trends within the China's seedling industry; business strategy; expansion and growth of Maple Leaf's business and operations and other such matters. Such forward-looking statements are subject to important risks and uncertainties, which are difficult to predict and that may affect Maple Leaf's operations, including, but are not limited to: the impact of general economic conditions; industry conditions; government and regulatory developments; seedling product supply and demand; competition; and Maple Leaf's ability to attract and retain qualified personnel. Maple Leaf's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do transpire or occur, what benefits Maple Leaf will derive there from. Subject to applicable law, Maple Leaf disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
All forward-looking statements contained in this document are expressly qualified by this cautionary statement. Further information about the factors affecting forward-looking statements is available in other disclosure documents of Maple Leaf which have been filed with Canadian provincial securities commissions and are available on www.sedar.com.