News
Maple Leaf Signs 932,400 Rmb Beet Pulp Feedstock Contract
(TSX-V: MPE)Last Close: December 18, 2009 - $0.11
Shares Issued: 61,586,627
Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that its wholly owned Xinjiang branch company has signed a contract with Zhaoqing Dinghu Wen's Livestock Farming Co., Ltd. ("Dinghu") to sell a total of 480 tons of beet pulp feedstock between December, 2009 and March, 2010. Beet pulp is a supplemental type of feed stock, used in replace of alfalfa feedstock. The purchase price range for the beet pulp will be approximately $301-304 Cdn (1930-1950 Rmb) per ton. The total value of the agreement is approximately $145,400 Cdn (932,400 Rmb). Maple Leaf will be paid cash on delivery of the beet pulp feedstock.
About Dinghu
Dinghu is a subsidiary company of Guandong Wen's Food Group Co. Ltd. Established in 1983 in Guangdong, Dinghu is a major agricultural company in China. Dinghu operates more than 30 branches of poultry, swine and cattle breeding farms, supplying meat products to over 20 provinces throughout China. Well known for its unique co-operative business model, Dinghu provides bio-security, animal health, feed and nutrition research, as well as equipment management and marketing services to farmers within their co-operative network.
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.