News
Maple Leaf Receives $78,000 Chinese Government Grant
(TSX-V: MPE)Last Close: November 6, 2009 - $0.13
Shares Issued: 61,586,627
Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that it has been awarded a $78,000 Cdn (500,000 Rmb) grant from the Hunan Provincial Government for its organic fertilizer plant at Changde, Hunan.
The grant is being issued from a five year Environmental Protection Plan Fund set up by the Environmental Protection Ministry of the Central Chinese Government in 2004 to improve the well being of the rural areas by providing assistance to companies implementing environmental improvement programs.
Maple Leaf’s organic fertilizer plant was one of 100 companies in the Hunan Province that applied for this year’s grant. Maple Leaf’s plant was one of only three companies that were selected to receive the grant. As such, both the provincial and central governments have high expectations for Maple Leaf to improve the local rural environment by continuing to build a high standard non-hazardous treatment system of livestock manure. This will greatly benefit the local population and will likely become a demonstration project of rural recycling & environmental improvement.
Raymond Lai, President and CEO of Maple Leaf comments, "Being one of only three companies to receive a grant out of the over 100 that applied really speaks to the quality and potential for our organic fertilizer plant".
With the Hunan Organic Fertilizer Plant developing, along with the Inner Mongolia Greenhouse and Xinjiang Alfalfa Operation, Maple Leaf now has three revenue generating projects primed for substantial growth in 2010.
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.