Maple Leaf Green World Inc. Signs LOI to form Joint Venture with Biolinear Technologies Inc., a Developer of Nano Delivery Systems
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CALGARY, Alberta, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”), (CSE: MGW) and (OTCQB: MGWFF), is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) dated October 12, 2021 to form a Joint Venture (“JV”) with Biolinear Technologies Inc (“Biolinear”). This JV will utilize Biolinear’s nano technology to design, produce, and sell cannabinoid-based products with enhanced bioavailability and drug delivery capabilities developed by Biolinear.
Biolinear is a technology company based in Nevada, USA and has developed technologies including the Cannabinoid Enhancement System (CES), GelPatch™, and NanoSpheres™. The CES is a patented technology that 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. 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.
“I believe these technologies are the future of the industry and having the opportunity to utilize them in our products is expected to provide a significant competitive advantage,” said Raymond Lai, Maple Leaf’s President and Chief Executive Officer.
“We have developed industry leading technology at Biolinear and are excited to get them in the hands of consumers through this JV,” said Alan Stier, Biolinear’s President. “We anticipate that our technology, paired with the production capabilities of Maple Leaf, will enable us to be a formidable player in the cannabinoid market.”
In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to complete the JV. All efforts are underway to accelerate this tremendous potential opportunity to expeditiously advance the commercialization of products that utilize Biolinear’s technologies. Maple Leaf is finalizing due diligence on the technologies and anticipates entering a definitive joint venture agreement before the end of October.
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 “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, 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 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+1(403) email@example.com
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