CEOCFO:Mr. Lai, Is Maple Leaf Green World on the growing side of medical marijuana, providing the marijuana for the product developers? What are you doing?
Mr. Lai: It is a pleasure to speak with you today. We started off as a greenhouse management company with operations in China for anti-desertification. We were helping the Chinese government to grow small trees so they can replant them in the semi desert area. We were doing that since 2006, but by 2013, the funding for these anti-desertification efforts were reduced by the government of China, and at the same time, the legalization of marijuana was happening in Canada. So we decided to change our focus from China back to Canada. We applied for the MMPR in 2014, which is the old licensing system, right now it is called ACMPR. While we were waiting, we also came across the opportunity to start another operation in California, which we believed it would be a good opportunity because California has more population than Canada, and they have a long time culture of marijuana usage. Therefore, we grabbed that opportunity and we started an operation in California at that time.
CEOCFO:Do you have the licensing in place for California in the United States?
Mr. Lai: It is a bit different in California. The state has approved medical marijuana and the licensing will be taking effect this year. But before that we had to operate as a joint venture partner with a non-profit co-operative. We supply them with capital and technology, and they grow marijuana for their members. Now the licensing scheme has come in for California, we will be able to grandfather it, and be able to apply for a license since we already have an operation in California. At present, we have 20 acres of land in Southern California, and we have two greenhouses operational – one for flowering , and one for propagation, and we have already produced two crops totaled about 300 lbs in 2016. The revenue will be about $300,000 and $400,000 US. Beside California, we have also purchased a cultivation license in Henderson, Nevada, very close to Las Vegas. The license we have there is for a 33,500 sq. feet indoor producing facility. In Nevada today, they have issued about 300 licenses, but only about 100 are operational. The rest of them are in remote areas where there is no water or electricity, so building the infrastructure alone would cost the licensees over million of dollars. Therefore, they will not become operational for a very long time. We on the other hand are one of the 100 that are operational now, and we have just also bought 4 acres of land in Henderson to build our own facility with special design to meet our requirement.
Going back to Canada, we had applied for the MMPR license since 2014, and finally got to the final Stage 5 in January 2016. Under the new ACMPR system, Stage 5 means that we can go ahead to renovate our existing facility to bring it up to the Health Canada standards, then Health Canada will send an inspector to do the inspection, and if everything meets their requirements then we will receive the license. There is a kind of guarantee in the regulations that they MUST give us the license if we meet their requirements. So these are our status in Canada, Nevada and California.
CEOCFO:Would you tell us about the markets in Canada and the US. How big are they?
Mr. Lai: In Canada, on the medical side right now we only have about 100,000 patients, but that is growing and could go up to about 2 or 300,000. That is still quite small, but recreationally it will be quite different once it kicks in, as they expect that over 10 million people will try it. So the market will be quite huge after the recreational kicks in. In California, it is much bigger, as there are currently over 1 million patients using marijuana for medical purpose. Recreationally, probably half of the California population is smoking marijuana. In Nevada, for medical use they only have about 30 to 40,000 patients now, but once recreational use kicks in, it will be huge as they allow the tourists to enjoy marijuana in Nevada, and each year there is over 30 or 40 million tourists going to Las Vegas.
CEOCFO:Do you have the funding to continue growth or are you looking for investors and partners?
Mr. Lai: We are in the process of raising CAD$ 5 million through non-brokered private placement now. Up to this point, all of our funding have been raised in this way. However, we are looking at institutional financing now too. I have been talking to three or four institutions that want to provide long-term or big financing for us, because they feel that our stock is undervalued and that we have much potential to grow.
CEOCFO:Address our readers in the business and investment community? Why should they be interested in Maple Leaf Green World?
Mr. Lai: First, I would like to emphasize that we are not just a Canadian MJ company. We are a North American MJ company with 3 projects located in strategic locations. In B.C. we are close to Vancouver, as a sea port, it allows us to easily export our products overseas, especially to Asia, an area untouched with MJ. Then in California, the biggest populated state in the US, and they have a long history of using marijuana. Then in Nevada, especially in Las Vega, it is one of the biggest tourist entertainment centers in the world. Therefore, we have 3 good locations for our projects. Secondly, our stock price is currently quite low comparing to other MJ stocks, and our outstanding shares is also quite low, just 120 million shares outstanding and only 60 million are floating. Therefore, the opportunity for our price to go up is higher than other MJ companies. Thirdly, our long term goal is to produce Cannabis oil, and we have an Cannabis oil project already in the making. Our long term goal is to export the Cannabis oil overseas. All these 3 points have made us distinctive from other MJ companies.
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has closed the 2nd and final tranche of its Unit financing. In connection with the closing, the Company issued 1,356,873 Units at a price of $0.55 per Unit, for gross proceeds of $746,280.15. Each Unit consists of one (1) common share and one (1) warrant. Each warrant entitles the holder to purchase one common share of the Company, at an exercise price of $0.75 per share, for a period of two years from the date of issuance. The warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Company’s shares may be trading on) is equal to or greater than $1.25 for a period of 20 consecutive trading days. Finder’s fees of $42,542, 3,200 Finder’s shares and 80,550 Finder’s warrants were issued in connection with finder’s fees payable.
In total, the Company raised gross proceeds of $1,757,180 and issued 3,194,873 Units.
Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (OTCQB: SEHCF) (“Sweet Earth” the “Company”) is pleased to announce that it has received full Depository Trust Company (“DTC”) eligibility in the United States. On October 20, 2020, Sweet Earth announced that its shares had been listed on the United States’ Over-The-Counter Bulletin (“OTCQB”) under the ticker SEHCF.
DTC status means that Sweet Earth shares are now eligible to be transferred between brokerage accounts within the United States and significantly augments the ease in which American-based investors are able to trade Sweet Earth shares.
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”), announces that further to its press releases dated July 21, 2020 and July 31, 2020, the Company proposes to amend the exercise price of 19,405,804 warrants of the Company that were originally issued on July 27, 2018, to $0.10. These warrants are set to expire on December 31, 2020.
The Company had initially proposed a lower amended price, but that proposal was not approved by the TSX Venture Exchange (“Exchange“), however, the Exchange indicated that a $0.10 exercise price, may be more acceptable. Accordingly, the proposed amendment remains subject to Exchange approval.
World Class Extractions Announces Issuance of U.S. Patent for Proprietary Solvent-Based Extraction Methods
Issuance of U.S. Patent No. 10,851,077 covering methods for extracting and concentrating cannabinoids using ultrasound-enhanced solvent extraction bolsters World Class’ intellectual patent portfolio
World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class”) is pleased to announced the United States Patent and Trademark Office (“USPTO”) has issued U.S. Patent No. 10,851,077 on December 1, 2020 in relation to the Company’s methods for extracting and concentrating cannabinoids and other target compounds from cannabis using ultrasound-enhanced solvent extraction
Ubican brings well-known brands and is a trusted vendor with an established sales and marketing program
Chemesis International Inc. (CSE:CSI) (OTCQB:CADMF) (FRA:CWAA) (the “Company” or “Chemesis”), announces Ubican Global (“Ubican”) as its primary supplier for its United States VICKI program. Ubican is a trusted supplier of a family of brands, each with multiple types of products. The products include tinctures, digestibles, edibles, pet, beautyskincare, topical, edible, fitness, and smokable products