Maple Leaf Green World Inc. Signs LOI with Anza Electric Co-op for Renewable Energy Project
Calgary, Alberta--(Newsfile Corp. - July 5, 2023) - Maple Leaf Green World Inc. (CSE: MGW) (OTCQB: MGWFF) ("Maple Leaf" or the "Company"), is pleased to announce the signing of a Letter of Intent ("LOI") on June 12, 2023, with Anza Electric Co-Op ("AEC") for a renewable energy project on its 18-acre property in Anza, California. This momentous agreement signifies a significant step forward for the Company in advancing clean and sustainable energy generation in the Anza region.
The collaborative project aims to harness the power of solar and wind energy through the installation of high efficiency solar panels and mid-size wind turbines on the Company's 18-acre property in Anza. The Company, with the support of AEC, aims to revolutionize the region's renewable energy landscape.
Under the terms of the LOI, the renewable energy project will initiate with a pilot phase, encompassing annual energy production of up to 1 MW. The pilot phase will also involve activities such as permitting, site preparation and clean-up, and infrastructure upgrade by AEC to support the project's operations. Upon successful implementation and performance, the project will progress to subsequent phases, expanding the property's annual energy generation capacity from 1 MW to 3 MW and beyond 3 MW in phase 3. The actual energy generation capacity will be dependent on the varying solar availability and wind speeds on the property. A Power Purchase Agreement ("PPA") will be put in place within three (3) months between the Company and AEC to firm up the purchase price and the terms and conditions related to the sale of electricity, duration, pricing structure and other relevant provisions.
For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that is focused on the health and wellness industry in North America and China. With a strong commitment to promoting holistic well-being and sustainable practices, Maple Leaf is dedicated to driving positive change in the industry. The Company's portfolio includes a plant-based health and wellness project in Southern California, an essential oil project in China, and investments in renewable energy initiatives. With a long-term vision to expand its renewable energy portfolio, Maple Leaf aims to contribute to a greener and more sustainable future. The Company's common shares are listed for trading on the Canadian Securities Exchange ("CSE") 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 the CSE 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 the CSE 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, 2022 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
rlai@mlgreenworld.com
(403) 907-3715
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172359
