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E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE |
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MAPLE LEAF REPORTS SALE OF SEEDLINGS FROM INNER MONGOLIA |
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CALGARY, ALBERTA, Apr. 8 -/E-Wire/-- Maple Leaf Reforestation Inc. (TSX Venture - MPE) ("Maple Leaf" or the "Company") is pleased to announce that Mr. Xi Yong Tu was appointed General Manager of the Company's Inner Mongolia operations on March 20, 2008 and has already begun to generate some sales and other positive results. All of the recent sales have been on a cash basis, involving an upfront deposit and the balance on delivery.
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The Company has recently sold and shipped 200,000 seedlings and received $176,000 RMB (approximately $25,000 CAD) as a deposit for these seedlings. In addition, another 2 million seedlings will be shipped before the end of April 2008 and a further 2 million seedlings will be shipped by the end of May 2008. About $1.4 million RMB (approximately $200,000 CAD) will be received on delivery for shipments for the month of April 2008. Total revenue from the shipments to be made during the month May is not certain at this time, but is guaranteed to be at least the same as that being received for the April shipments. The Company's shipping rate has increased from approximately 30,000 seedlings per day to 90,000 seedlings per day. The recent sales have been done at a discount in order to clear out old inventory of seedlings, resulting in the Chinese Pine and Scott Pine already being sold out.
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Mr. Raymond Lai, Chairman, President & C.E.O. of Maple Leaf is very excited about the huge success that has been achieved by the new management of the Inner Mongolia operations in such a short time. With this rate of sales, the Company is hopeful that it will be well positioned financially to proceed with the addition of a second greenhouse in the near future. About Maple Leaf Reforestation Inc.
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Maple Leaf is a Canadian company operating a large-scale forest nursery whose primary focus is growing value added tree seedlings in addition to providing landscaping and nursery products in China. Reforestation has been identified as a critical strategy to help manage China's troubling environmental issues, namely pollution and desertification. Maple Leaf currently has over 6 million varieties of seedlings under cultivation at its nursery facility that includes a 110,000-square foot greenhouse located in Liang Cheng, Inner Mongolia, China. Maple Leaf is a wholly-owned foreign enterprise ("WOFE"), which allows Maple Leaf 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. For further information regarding Maple Leaf Reforestation Inc., visit www.mlreforestation.com or contact:
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Should you wish to receive Company news via email, please email catarina@chfir.com and specify "Maple Leaf Reforestation Inc." in the subject line or contact the Company directly.
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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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. Subject to applicable law, Maple Leaf disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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All forward-looking statements contained in this document are expressly qualified by this cautionary statement. Further information about the factors affecting forward-looking statements is available in other disclosure documents of Maple Leaf which have been filed with Canadian provincial securities commissions and are available on www.sedar.com.
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/SOURCE:
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Maple Leaf Reforestation Inc. |
-0-
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04-08-2008 |
/CONTACT:
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Maple Leaf Reforestation Inc.
Raymond Lai, Chairman, President & CEO
Tel: +1 (403) 668-7560
Fax: +1 (403) 250-2534
E-mail: rlai@mlreforestation.com
CHF Investor Relations - Toronto
Catarina Cerqueira, Associate Account Manager
Tel: +1 (416) 868-1079 ext. 251
Email: catarina@chfir.com
Christopher Haldane, Account Manager
Tel: +1 (416) 868-1079 ext. 237
Email: chris@chfir.com
CHF Investor Relations - Shanghai
Tel: +86 (0)21 28909034 |
| /WEB SITE: |
http://www.mlreforestation.com
http://www.sedar.com.
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