Maple Leaf Green World's Gao resigns as finance VP

• Governance Changes: Winston Wentong Gao resigned as Vice-President, Finance and Public Relations effective May 21, 2026, though he remains a non-executive director. Raymond Lai resigned from the audit committee. Louis Kin Man Sing was appointed to the audit committee alongside Thomas West (Chair).
• Regulatory Compliance: The company filed audited annual financial statements for fiscal year ended December 31, 2025, along with MD&A and executive compensation forms.
• Cease Trade Order Status: Management is actively seeking revocation of the Failure-to-file cease trade order (FFCTO) issued by the Alberta Securities Commission on May 6, 2025. The company claims to have addressed outstanding regulatory filing fees and continuous disclosure review comments.
• Strategic Context: This follows the April 30 announcement where the company restated 2024 financials to reverse $2.67 million in debt settlement gains due to a breach of payment deadlines.

• Governance Risk Elevated: The resignation of the Finance VP during an active remediation phase for regulatory non-compliance is a negative signal. It suggests potential internal friction or inability to maintain stable financial leadership required to satisfy the Alberta Securities Commission (ASC).
• Trading Status Remains Uncertain: While documents were filed, the news states the company is "seeking revocation." Trading in Canada remains prohibited until official confirmation from the ASC. The market has not reacted positively as evidenced by the flat price action over 12 months.
• Financial Restatement Precedent: The prior restatement of $2.67 million in debt gains indicates significant issues with previous financial reporting integrity. This undermines confidence in the newly filed 2025 statements until independent verification occurs post-trading resumption.
• No Capital Raise Announced: Unlike the April news which highlighted a need for bridge financing, this release does not confirm new capital has been secured to address working capital deficiencies.

• Business Model Transition: The company is pivoting from cannabis-focused development to renewable energy and sustainable infrastructure.
• Flagship Project (Coronation): Advancing a 25-acre industrial park and community development project in collaboration with the Town of Coronation, Alberta.
• Secondary Asset: Evaluating a 20-acre California land parcel for potential solar farm development under a letter of intent.
• Operational Priorities: Pursuing bridge financing to address working capital deficiencies and re-engaging settlement creditors for new payment terms.