June 19, 2017 – Toronto, Ontario – Matica Enterprises Inc. (MMJ–CSE) (39N – Frankfurt) (MQPXF – OTC PINK) (“Matica” or the “Company”) is pleased to announce that it plans to undertake a non-brokered private placement of up to twenty million (20,000,000) units (the “Units“) to raise gross proceeds of up to $1,000,000 (the “Offering“). The Units will be offered at a price of $0.05, with each Unit consisting of one common share and one common share purchase warrant. Each warrant will be exercisable to acquire one common share of the Company at a price of $0.10 for a period of eighteen months.
RoyalMax Biotechnology Canada Inc. (“RoyalMax”) has received a “request for readiness” letter which Health Canada issued in June. These letters along with the improvements to the ACMPR application process announced in late May are a positive development for RoyalMax and the industry as a whole. As such, Management has planned to accelerate the construction schedule and has therefore made the decision to raise funds now for early completion of the RoyalMax facility in Dorval, Quebec. Matica is striving to have RoyalMax become the second licensed producer in the province of Quebec.
Proceeds from the Offering will be used for build out of the Dorval facility and general working capital. All securities purchased under this Offering will be subject to a four month hold period. Finders’ fees may be payable on a portion of the Offering in accordance with the policies of the CSE. Completion of the Offering is subject to the acceptance of the CSE.
About Matica
Matica has an agreement with RoyalMax Biotechnology Canada Inc. (“RoyalMax”) for Matica to become a majority owner (70%) of the late stage applicant under the Access to Cannabis for Medical Purposes Regulation (“ACMPR”). Through RoyalMax, Matica is diligently moving forward with its application to become a Licensed Producer of medical marijuana under ACMPR. With permits in place, Matica has started to prepare the facility for retrofitting.
For more information on Matica please visit the website at: www.westislandbrands.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
/s/Boris Ziger
Boris Ziger, CEO & Chairman
The Company’s filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, Chief Executive Officer, at:
Telephone: 416-304-9935
E-mail: info@westislandbrands.com
Website: www.westislandbrands.com
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
The CSE has not reviewed, approved or disapproved the content of this press release.