News
Maple Leaf Makes Shipments and Receives Revenue in September
(TSX-V: MPE)Last Close: October 9, 2009 - $0.14
Shares Issued: 61,586,627
Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that it has received revenue for the month of September totaling approximately $156,135 Cdn (983,652 Rmb). The revenue was received in connection with the following:
Inner Mongolia Greenhouse
In September the Company shipped 498,960 Blue Spruce seedlings at a purchase price range of approximately $0.19-0.29 Cdn (1.20-1.80 Rmb) for total revenue of approximately $131,706 Cdn (829,752 Rmb). The seedlings were shipped to various non-contracted customers in Kekouban Village, the town of Yulin, the city of Huhehaote and the town of Yangbai, all in the province of Shanxi.
Hunan Organic Fertilizer Plant
In September the Company shipped 64 tons of fish meal at a purchase price of approximately $382 Cdn (2,405 Rmb) per ton for total revenue of approximately $24,142 Cdn (153,900 Rmb). The fish meal was shipped to various non-contracted customers in the Guangxi Region.
Xinjiang Alfalfa Operation
No alfalfa shipments were made during the month of September, as the Company was accumulating working capital to purchase the necessary raw materials. Funds were sent to the Alfalfa Operation upon closing of the Company's recent convertible debenture private placement.
Raymond Lai, President & CEO of Maple Leaf comments, "We have now closed and received final approval for our convertible debenture private placement, which was excitingly oversubscribed. The funds from this offering will finally allow us to ramp-up and reap the benefits of our Alfalfa Operation. In addition, some of the funds will be used to grow our production at the Organic Fertilizer Plant. We are very much looking forward to having all three of our operations contributing meaningfully to our revenue production."
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.