Maple Leaf Becomes Sole Distributor of German Hawita Gruppe Agro Balt Peat Moss Products in China
FOR: MAPLE LEAF REFORESTATION INC.
JUL 9, 2012 - 09:00 ET
CALGARY, ALBERTA--(Marketwire - July 9, 2012) - Maple Leaf Reforestation Inc. (TSX VENTURE:MPE) ("Maple Leaf" or the "Corporation") announces that it has entered an agreement to become the Sole Distribution Agent of Agro Balt peat moss products in China for Hawita Gruppe ("Hawita"). Given the demand for high quality peat moss in China, Maple Leaf's management is excited about the revenue potential that exists as a result of becoming the sole distributor of Agro Balt products for Hawita in China. Maple Leaf is already in discussions with various potential Chinese clients and is hopeful that a contract with one or more of these potential clients will be finalized soon.
The Agro Balt peat moss products are produced in the peat fields of Latvia on land owned by Hawita. In China, peat moss is required for forestry, horticulture, vegetables, orchards and the lawn industry. The demand for peat moss products in China is significant and the market generally relies on imported peat moss due to the superior quality of the foreign peat moss.
Hawita is a German-based corporation that has a proud corporate history of more than 80 years. With a current staff of over 400 people, Hawita is a premium manufacturer of products worldwide for modern horticulture. Maple Leaf's management looks forward to building a strong partnership with Hawita in the coming years.
Maple Leaf also announces that effective July 6, 2012, Mr. Jeff Kong has resigned as Chief Financial Officer and as a director of the Corporation to pursue other business opportunities. Maple Leaf would like to thank Mr. Kong for his efforts while serving as its CFO and on its board of directors. The vacancies created by Mr. Kong's resignation will be filled by Mr. Daniel Chu.
Mr. Chu graduated from the University of Saskatchewan with a Bachelor of Commerce Degree and has been a Chartered Accountant since 1986. Mr. Chu has served on a number of public company boards as a director and was also one of the original founders of Maple Leaf, which included serving as its Chief Financial Officer and as a director from its inception until June, 2010. Mr. Chu is currently running his own financial coaching/education agency and anti-aging/self-healing business in Calgary.
About Maple Leaf Reforestation Inc.
Maple Leaf is a Canadian company that focuses in the environmental industry with 2 main operating arms:
- Eco-Agriculture - it operates a large-scale nursery business in Inner Mongolia, China that is focused on growing value-added tree seedlings and nursery products that assist with anti-desertification.
- Renewable Energy - it is undertaking to commence a Yellowhorn seedling and tree operation which would provide valuable Yellowhorn seeds and ultimately oil from such seeds for the manufacture of bio-diesel fuel and premium healthy cooking oil.
Maple Leaf is a wholly-owned foreign enterprise which allows the Corporation 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.
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.
Maple Leaf maintains a forward-looking statement database which is reviewed by management on a regular basis to ensure that no material change has occurred with respect to such forecasts. The Company will publicly disclose such material changes to its forward-looking statements as soon as they are known to management.
Last Close: July 9, 2012 - $0.04