News
Maple Leaf Makes Shipments and Receives Revenue in July
(TSX-V: MPE)Last Close: August 7, 2009 - $0.115
Shares Issued: 61,586,627
Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that it received revenue during the month of July totaling $193,491 Cdn (1,220,930 Rmb) and was received in connection with the following:
Hunan Organic Fertilizer Plant
In July the Company shipped 257.80 tons of fish meal at a purchase price of approximately $402 Cdn (2,540 Rmb) per ton for total revenue of approximately $103,773 Cdn (654,812 Rmb). The fish meal was shipped as follows:
- 30.00 tons to the 2nd Xihu Fish Farm owned by Hunan Dongting Aquaculture Co. Ltd.;
- 73.80 tons to Qili Lake Fish Farm, Jin City, Hunan;
- 45.00 tons to Baimin Lake Fish Farm, Li County, Hunan; and
- 109.00 tons of sales to non-contracted customers.
In July the Company shipped 717,500 seedlings at a purchase price range of approximately $0.08-0.13 Cdn (0.50-0.80 Rmb) for total revenue of approximately $88,708 Cdn (559,750 Rmb). The seedlings were shipped as follows:
- 300,000 blue spruce to Zhouquan Village, Zuoyun County, Shanxi;
- 250,000 blue spruce to Baotou Guyang Forestry Bureau;
- 120,000 blue spruce to a non-contracted customer in Ordos, Inner Mongolia; and
- 47,500 jack pine to a non-contracted customer in Huhehaote.
No alfalfa shipments were made during July and no revenues were received from the Alfalfa Operation. The Company expects to make its next shipments during the month of August.
Raymond Lai, President & CEO of Maple Leaf comments, “We are pleased that we have now had four consecutive months of meaningful revenue. Although our net revenue in Canadian dollars decreased from June to July, this was primarily due to a significant increase in the value of the Canadian dollar in relation to the Rmb. We are hopeful that our current efforts to raise additional working capital will allow us to ramp-up and receive meaningful revenue from our Alfalfa Operation in August and going forward.”
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.