Maple Leaf Green World Inc. Has Signed an Agreement With Hempacco, Co. Inc. to Manufacture and Market Its CBG Hemp Cigarettes
CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company“) (NEO: MGW, OTCQB: MGWFF) is pleased to announce it has signed an agreement (“Agreement“) with Hempacco Co. Inc. (“Hempacco“), a vertically integrated California-based Hemp CBD, CBG R&D, marketing, and manufacturing company, to develop, manufacture and market its new brand of CBG Hemp cigarettes.
The Agreement aims to develop a new CBG hemp cigarette brand for Maple Leaf using their California-grown hemp. Hempacco will handle all of the research, development, and manufacturing of a retail-ready 20-pack CBG-rich hemp cigarette brand.
“I’m excited to work with Hempacco to develop our brand of CBG hemp cigarettes; this is a pivot for our company after identifying the growing hemp cigarette space and the market opportunity not only in the USA, but also in Canada and internationally”, said Raymond Lai, CEO of Maple Leaf, “Our CBG farm is minutes away from Hempacco’s manufacturing location, which makes it an amazing opportunity to have our own seed to shelve product and deliver an incredible hemp smokable quality experience to the consumer,” Raymond concluded.
“It’s been a pleasure working with Raymond and his team to launch Maple Leaf’s new CBG brand in our quest to disrupt Tobacco™,” said Sandro Piancone, CEO of Hempacco. “We’re committed to a fast launch of the CBG hemp cigarette brand and following it up with an eCommerce portal that integrates picking, packing, and shipping all from one location close to the Maple Leaf’s farm,” Sandro concluded.
The hemp cigarette private label manufacturing agreement is for five (5) years consists of two (2) phases. The first phase is hemp cigarette product development, including Research & Development, Business Modelling, and hemp cigarette white label Manufacturing sub-phases. Hempacco will undertake all the necessary work for the three (3) sub-phases, including packaging and shipping, where Maple Leaf supplies raw hemp material. Maple Leaf and Hempacco will jointly develop branding and packaging artwork that Hempacco will manufacture. The second phase is to establish an e-commerce Strategy, which will expand Maple Leaf’s online and social media presence by developing a full e-commerce platform. Through the Company’s new hemp cigarette online store, CBG hemp cigarettes, packaged flower jars, and subsequent product developments will be available for purchase and shipped across the United States and Overseas. Both phases will commence immediately.
Hempacco will invest in the brand by paying for all the initial start-up costs associated with both phases. Maple Leaf will contribute to the manufacturing and order processing cost when sales are made. As compensation for Hempacco’s services, Maple Leaf will pay Hempacco two (2) million common shares at $0.075 per share for phase 1 and one (1) million common shares at $0.075 per share for phase 2 provided that both phases are completed within 45 days after the agreement date and accepted by Maple Leaf. The issuance of three (3) million common shares is subject to Maple Leaf’s Broad of Directors and Neo Stock Exchange’s approval.
The Agreement will leverage Hempacco’s fully integrated supply chain to manufacture, package, market, and distribute Maple Leaf’s CBG Hemp Cigarettes as well as leveraging Maple Leaf’s digital branding artwork, expertise in cultivating high quality, organic CBG Hemp, and its role as a gateway for penetrating international markets. By utilizing the resources from both Maple Leaf and Hempacco, the Agreement will disrupt the cigarette industry by providing a naturally great-tasting alternative to traditional tobacco and nicotine cigarettes. Hemp cigarettes are also a great alternative to marijuana by offering the non-psychoactive effects caused by THC with the added benefits of CBG.
About Hempacco Co. Inc.
Hempacco is disrupting Tobacco’s™ $1 Trillion industry with hemp-based alternatives to cigarettes by manufacturing and marketing consumer goods. The Company owns research and development, manufacturing and sales of smokable hemp brands, including The Real Stuff™ Hemp Smokables. Hempacco’s profit centers include private label agreements, Intellectual Property licensing, and the development and sales of their brands using patented counter displays as well as six hundred Kiosk vending machines called HempBoxes™.
For more information, please visit: https://hempaccopackaging.com/
Update of Previous Sales Letter of Intent
The Company would also like to announce that it has cancelled the previously announced letter of intent from CannaTrading Co and Emco/Hanover Group. CannaTrading Co has permanently closed and the special pricing offer to Emco/Hanover Group has expired. The Company believes that hemp cigarettes are one of the fastest growing segments of the hemp industry and will generate higher sales volume and profit margins for the Company, as such; it will allocate most of its inventory to capitalize on this trend.
For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.
For updates regarding the California CBG Hemp Project, please visit https://www.gsgreenworld.com/.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the cannabis and hemp industry in North America. The Company currently has cannabis and hemp projects in British Columbia and California. With over 10 years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free cannabis products. Maple Leaf’s long-term objective is to produce cannabis oil and to export its products to approved countries. The Company’s common shares are listed for trading on the Aequitas NEO Exchange Inc. under the symbol “MGW” and on the OTCQB market under the symbol “MGWFF.”
Forward Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning: the Proposed Transaction and the timing thereof; When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company that include, but are not limited to, the timely receipt of all required regulatory and third-party approvals, including approvals from NEO and from the shareholders of Maple Leaf. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals, including approvals from NEO and from the shareholders of Maple Leaf, not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2018 and management’s discussion and analysis (“MD&A”) thereof for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.
Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
For further information, please contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO
+1(403) 452-4552
rlai@mlgreenworld.com
Billy Bewcyk, V.P. for Business Development
+1(403) 616-4877
wbewcyk@mlgreenworld.com
