News
Maple Leaf Makes Shipments and Receives Record Monthly Revenue in June
(TSX-V: MPE)Last Close: June 29, 2009 - $0.095
Shares Issued: 61,586,627
Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that it received record monthly revenue during the month of June. Revenue received in June was $236,864 Cdn (1,397,500 Rmb) and was received in connection with the following:
Hunan Organic Fertilizer Plant
The Company shipped 500 tonnes of fish meal at a purchase price of $440 Cdn (2,600 Rmb) per tonne for total revenue of $220,338 Cdn (1.3 million Rmb). The fish meal was shipped as follows:
- 70.46 tonnes to the 7th Lake Fish Farm of Datong Lake Fish Farm owned by Hunan Dongting Aquaculture Co. Ltd.;
- 137 tonnes to the 2nd Xihu Fish Farm owned by Hunan Dongting Aquaculture Co. Ltd.;
- 210.69 tonnes to Qili Lake Fish Farm, Jin City, Hunan; and
- 81.85 tonnes to Baimin Lake Fish Farm, Li County, Hunan.
The Company shipped 50 tonnes of alfalfa to various customers at a purchase price of $330.50 Cdn (1,950 Rmb) per tonne for total revenue of $16,525 Cdn (97,500 Rmb). The Company hopes to obtain additional working capital in the near term to permit the ramping up of its alfalfa operations. The majority of the funds raised through the Company’s recent private placement were used to fund the Greenhouse and Organic Fertilizer Plant.
Inner Mongolia Greenhouse
No seedling shipments were made during June and no revenues were received from the Greenhouse operations. The Company intends to make its next shipments at the end of July.
Raymond Lai, President & CEO of Maple Leaf comments, “June’s revenue marks the first meaningful intake of funds from product shipments for the Company. It is my hope that going forward revenues will consistently grow from month to month as our three main projects ramp-up. I am particularly excited about how quickly the Fertilizer Plant has produced a meaningful revenue stream.”
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.