Maple Leaf Green World Inc. Has Appointed Green Castle Environmental Ltd. as the Project Manager for Its Zero-Emission Affordable Housing Project in The Alberta Palliser Region
Rhea-AI Summary
Maple Leaf Green World (CSE: MGW, OTC: MGWFF) has entered a Joint Venture Agreement with Green Castle Environmental to develop an affordable housing project in Alberta's Palliser Region. Green Castle, appointed as Project Manager, will contribute services and construction expertise while Maple Leaf provides capital. The project aims to address the region's serious housing shortage, particularly as various industries establish operations there. Green Castle, a licensed builder since 2022, is currently building a HE-RTM facility in Oyen, Alberta for prefabricated housing production. Their first task will be setting up a capital budget and locating sites for show homes.
Positive
- Strategic partnership to address housing shortage in growing industrial region
- Company secures experienced partner with over 25 years of construction experience
- Project aims to generate profit sharing between parties
Negative
- Significant capital investment required from Maple Leaf
- Project still in early planning stages without concrete timeline
- No specific financial terms or profit-sharing percentages disclosed
News Market Reaction
On the day this news was published, MGWFF declined 17.97%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Calgary, Alberta--(Newsfile Corp. - November 6, 2024) - Maple Leaf Green World Inc. (CSE: MGW) (OTC Pink: MGWFF) ("Maple Leaf" or the "Company"), is pleased to announce it has signed a Joint Venture Agreement ("The JV") with Green Castle Environmental Ltd. ("Green Castle") of Carbon, Alberta to develop the Green Housing Project ("The project") in the Palliser Region of Alberta. Green Castle will be appointed as the Project Manager.
The housing shortage problem in the Palliser Region is serious especially when various industries are planning to establish operational bases in the Region, they need affordable housing for their employees. Maple Leaf is taking the initiative to provide affordable and energy efficient housing in the Region with the assistance of Green Castle.
Under the JV Agreement, Maple Leaf will contribute all the deemed necessary capital and Green Castle will contribute its service, skill, labor and construction expertise for this Project. The net profit of this Project will be split in certain agreed percentage between the parties.
Green Castle has been building commercial, residential and agricultural buildings in Alberta and B.C. since 1996. It has been a licensed builder since August 2022. It is also in the process of building a HE-RTM facility in Oyen, Alberta to facilitate the production of perfricated and Ready To Move (RTM) affordable houses.
In addition, Green Castle has also involved in assisting renowned Canadian Artist; Dean Bauche, to create a series of woven copper sculptures that were featured in an art exhibit at the Chapel Gallery in North Battleford, Saskatchewan, and involved in building solar projects in Diamond Valley, Alberta and Surrey B.C. as well.
"I am excited to joint hand with Maple Leaf to build energy efficient affordable houses in the Palliser Region as the demand for housing has increased significantly due to the invigoration of the Region's economy. "Said Bryce Brodie, the President of Green Castle Environmental Ltd.
Green Castle's first task will be to set up a capital budget and to locate suitable sites for building one or two show homes in the Palliser Region with the collaboration of the town officials in the Palliser Region.
For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.
About Maple Leaf Green World Inc.
Maple Leaf is focused on green and environmentally friendly business, It aims to contribute to a greener and more sustainable future.
Please contact:
Raymond Lai, Chairman, President & CEO
Email: rlai@mlgreenworld.com;
Tel: (403) 907-3715
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229036
FAQ
What is the purpose of Maple Leaf Green World's (MGWFF) new joint venture in Alberta?
Who will manage Maple Leaf Green World's (MGWFF) housing project in the Palliser Region?
What are the immediate next steps for the MGWFF housing project in Alberta?
