Calgary, Alberta--(Newsfile Corp. - May 9, 2024) - Maple Leaf Green World Inc. (CSE: MGW), (OTCQB: MGWFF) ("Maple Leaf" or the "Company"), is pleased to announce the signing of a 40-year ground lease agreement ("the Lease") with the Town of Coronation ("Coronation" or the "Town") for the development of a 12MW DC solar farm pursuant to the Company's prior Press Release dated May 6, 2024 for the Option Agreement.

Under the terms of the Lease, Maple Leaf if deciding to exercise the Option to lease 50-60 acres of the marginal land owned by the Town of Coronation for 40 years, the company will pay CAD$600 per acre with an annual escalation rate of 1.5% per year, roughly about CAD$1,100 per acre after 40 years. This agreement will provide the Company with security of land use with fixed terms and flexibility needed to proceed with the project while completing comprehensive studies and obtaining necessary regulatory approvals.

"We are much appreciated the Town of Coronation has given us all the comfort zone and conditions required for us in order to move forward with this Solar Farm project," said Raymond Lai, President and CEO of Maple Leaf. "This Lease Agreement represents a cornerstone for the Company's renewable energy initiative and a foundation for transforming underutilized land into a source of renewable energy, while also providing economic benefits to the local community."

The 12MW DC solar farm is expected to generate clean electricity for the Alberta Power Pool, contributing to the province's renewable energy targets. With an estimated 10-year equity payback and over $1M net revenue generated per year, this solar farm represents a solid investment for the Company and substantial tax and lease revenue to Coronation.

For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.

About Maple Leaf Green World Inc.

Maple Leaf is a public Canadian company that is focused on the health and wellness industry in North America and China. With a strong commitment to promoting holistic well-being and sustainable practices, Maple Leaf is dedicated to driving positive change in the industry. The Company's portfolio includes a plant-based health and wellness project in Southern California, an essential oil project in China, and investments in renewable energy initiatives. With a long-term vision to expand its renewable energy portfolio, Maple Leaf aims to contribute to a greener and more sustainable future. 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."