CALGARY, Alberta, Nov. 09, 2021 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”), (CSE: MGW) and (OTCQB: MGWFD), is pleased to announce that it has formed the previously announced Joint Venture (“JV”) with Biolinear Technologies Inc (“Biolinear”). The JV will design, produce, and sell cannabinoid-based products that utilize the technologies developed by Biolinear. Ownership and profits of the JV will be evenly split between Maple Leaf and Biolinear.
Biolinear is a technology company based in Nevada that researches and develops cannabinoid enhancement and delivery technologies. Biolinear’s technologies include the Cannabinoid Enhancement System (CES), GelPatch™, and NanoSpheres™. The CES dissolves isolates, crudes, or distillates into a pure Molecular Solution, boasting a particle size of ~1 nanometer, which increases the bioavailability and unlocks the full potential of cannabinoid products. Products enhanced with CES will allow consumers to experience the benefits and effectiveness of CBG more quickly. GelPatch™ is an odourless, colourless transdermal and topical delivery system for soluble and insoluble drugs, including cannabinoids. NanoSpheres™ is a time-release oral drug delivery technology especially suited for high/bulky dose and/or sustained release applications.
“We are excited to move forward with Biolinear and form this Joint Venture,” said Raymond Lai, Maple Leaf’s President and Chief Executive Officer. “We expect this to be an excellent opportunity for both companies to get these industry leading products in the hands of consumers.”
The JV will combine Biolinear’s CES, GelPatchTM, and NanoSpheresTM technologies with MGW’s hemp products to develop a new product line. This Proprietary Product will be in effect for one (1) year. Either party can renew this agreement with sixty (60) days’ notice. MGW will distribute, on behalf of the JV, to its existing and potential client base consumer products containing the Biolinear technology.
For further information regarding Biolinear, please visit https://biolinear.com/.
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 is focused on the hemp industry in North America. The Company currently has a hemp project in Southern 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 Canadian Securities Exchange (“CSE”) under the symbol “MGW” and on the OTCQB market under the symbol “MGWFD.”
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, 2020 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 obligations 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
Source: GlobeNewswire