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Be the first with the news that moves the market- Maple Leaf Green World (NEO:MGW) has received a purchase order from a Canna Trading Company subsidiary, worth approximately C$3.6 million
- The purchase order is for 5,000 pounds of La Crème flower and 5,000 pounds of biomass
- Maple Leaf plans to ship the products after completion of its first La Crème harvest, between July and August
- Canna, a hemp CBD product manufacturer, will use the cannabis flower and biomass to develop a line of CBG products
- Maple Leaf Green World (MGW) is up 8.33 per cent and is currently trading at seven cents per share
Maple Leaf Green World (NEO:MGW) has received a purchase order from a Canna Trading Company subsidiary, worth approximately C$3.6 million.
The order called for 5,000 pounds of La Crème flower and 5,000 pounds of biomass.
The La Crème flower is priced at approximately $551 a pound, with the biomass selling for roughly $172 a pound. However, these prices and the final purchase order value may change, based on the product’s market price at the time of shipping.
The buyer, Canna Trading Company of California, USA, formulates and manufactures hemp CBD products. The company started operations in 2015, starting with the development of a CBD vape product line.
Canna has since worked to explore other alternative methods for delivering CBD and cannabis to consumers. The company will likely use Maple Leaf’s cannabis flower and biomass to develop a line of CBG products for its customers.
Maple Leaf Green World expects that it will ship the products after the first La Crème harvest at its Riverside site is completed. This will probably be sometime around July or August of this year.
The company’s President and CEO, Raymond Lai, commented on the considerable purchase order.
“We are excited to receive this sizable purchase order from Canna. This marks a major milestone for our CBG Hemp project and for Maple Leaf.
“We expect to develop a long-term relationship with Canna by providing them with high-quality CBG products,” he said.
Maple Leaf Green (MGW) is up 8.33 per cent and is currently trading at seven cents per share at 11:12am EDT.
