Maple Leaf Receives Two Ton Yellowhorn Seed Order & Notification from its
U.S. Agent of the BCAP Program Commencing
Last Close: November 1, 2010 - $0.12
Shares Issued: 72,458,502
(TSX-V: MPE)
CALGARY, Nov. 2 /CNW/ -
Additional Yellowhorn Seed Order by Australian Plantation
Maple Leaf Reforestation Inc. (the "Company" or "Maple Leaf") is pleased to announce that it has received a 2 ton order of Yellowhorn "seeds" from an Australian-based plantation (the "Plantation"). As was announced on July 3, 2010, the Plantation previously purchased 100 kilograms of seeds from Maple Leaf and they were very happy with the quality of seeds they received. The current order, being of a substantially greater volume, will be purchased by the Plantation for approximately US $130,000. The Plantation will be paying Maple Leaf in full for the 2 ton shipment of seeds prior to its departure from China. The Plantation has also provided an expression of interest to Maple Leaf to purchase a substantial number of Yellowhorn "seedlings" to be delivered in Spring 2011. Maple Leaf anticipates that the number of seedlings to be purchased by the Plantation will be finalized prior to the end of the calendar year and that a deposit will be received to confirm the order.
BCAP Program in U.S. in Effect
Maple Leaf is also pleased to announce that it's U.S. Yellowhorn Distribution Agent, Unni Larsgaard Trust ("Unni") has informed it that effective October 27, 2010, the Biomass Crop Assistance Program ("BCAP") in the U.S. has been formally enacted. As anticipated, eligible crop investments, which includes Yellowhorn seeds and seedlings, will qualify for government subsidies covering up to 75% of the cost of harvesting such crops. Maple Leaf and Unni are very excited that BCAP has now formally been put in force and both parties anticipate that this will result in substantial Yellowhorn seed and seedling orders being placed through Unni with Maple Leaf. Maple Leaf encourages investors to locate "Notice BCAP-17" on the internet for complete details on the program. Maple Leaf will also post the notice on its website in due course.
Securing Yellowhorn Supplies
In light of BCAP being formally enacted, following Maple Leaf's President Raymond Lai meeting with various Chinese Government officials and after receiving numerous purchase inquiries from all over the world, it has become clear to Maple Leaf that demand for Yellowhorn seeds and seedlings is drastically increasing, especially with respect to securing supplies for next Spring. A formal business plan is being formulated by Maple Leaf to secure a significant long term supply of Yellowhorn seeds. Mr. Lai comments, "We are lucky to be strategically positioned to access the world's largest sources of Yellowhorn seeds and seedlings. We are working diligently to ensure that we are able to secure large quantities of good quality Yellowhorn seeds and seedlings and do so at a cost to Maple Leaf that continues to provide very intriguing profit margins to the Company."
About Maple Leaf Reforestation Inc.
Maple Leaf is a Canadian company operating five environmental related projects in China:
- a large-scale forest nursery in Inner Mongolia which is focused on growing value-added tree seedlings and nursery products;
- an alfalfa feedstock operation that produced 10,000 tons in 2009 with great expansion potential and opportunity to build an alfalfa crop cake processing plant;
- a multi-faceted Xinjiang Yellowhorn tree project which will provide for the manufacture of bio-diesel fuel and cooking oil and complement the fabrication of the ever demanding nutritious alfalfa feedstock;
- an organic fertilizer plant in the Hunan Province which will produce environmentally friendly bio-organic fertilizer; and
- a Flexi-Pipe distribution network to serve the oil and gas industry and other renewable energy industries.
Maple Leaf is a wholly-owned foreign enterprise which allows the Company 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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.
For further information:
Visit www.mlreforestation.com or contact:
Maple Leaf Reforestation Inc.
Raymond Lai, Chairman, President & CEO
Tel: +1 (403) 668-7560
Fax: +1 (403) 250-2534
E-mail: [email protected]
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