March 27th, 2015 – Toronto, Ontario – Matica Enterprises Inc. (MMJ – CSE) (39N – Frankfurt) (MQPXF – OTC) (“Matica” or the “Company”) announces that its agent, Jacob Securities Inc., has closed on 3,964,500 units in the second tranche of the brokered private placement offering at a price of eight cents per unit for gross proceeds of $317,960. Each unit comprises one common share and one share purchase warrant of the Company. Each warrant will entitle the holder to purchase one additional share at an exercise price of 15 cents per warrant for a period of 36 months from the closing date.
Matica is currently completing the previously announced Plan Of Arrangement (Announced on January 5th 2015), following which, Matica will focus solely on becoming the next publicly traded MMPR company through the nearly completed Nova Scotia based, THC Dispensaries Inc. (“THCD”) marijuana production facility with a “Ready To Build” letter from Health Canada. Completion of the facility is anticipated shortly followed by a final inspection by Health Canada before being granted a MMPR license.
Matica Enterprises CEO, Boris Ziger states, “Now that we have closed our financing and all necessary funds are in place, Matica will commence an extensive marketing initiative throughout North America to coincide with our anticipated MMPR facility completion. As well, our DTC electronic trading status is now active for US investors to own shares in Matica for the first time. Once our facility is complete, a final inspection from Health Canada will be carried out before the MMPR licence can be granted. Matica’s near term goal is to become the next publically traded Licensed Producer of medical marijuana in Canada under the Federal Government’s new MMPR program.”
As consideration for acting as lead agent, Jacob Securities will receive a commission up to 8 per cent of funds secured by Jacob pursuant to the financing, and compensation warrants to purchase a number of units of Matica up to 8 per cent of the units shares sold pursuant to the financing, exercisable at the same issue price of the units for a period of 36 months from the closing of the financing.
About Matica Enterprises Inc.
Matica has signed a definitive agreement to earn a fifty percent interest in THC Dispensaries, Inc (“THCD”), a Nova Scotia applicant under the Marijuana for Medical Purposes Regulation (“MMPR”). THC Dispensaries has received a “Ready To Build” letter from Health Canada and is awaiting the pre-licence inspection to become a Licensed Producer under MMPR. The entire operation sits on 35 acres of land in Antigonish. The Company also intends to undertake a plan of arrangement (“Plan of Arrangement”), which will involve the divestiture or spinoff of certain assets into four new subsidiary companies. Following the four spinoff transactions, Matica’s operations will focus solely on obtaining its MMPR licence for the Nova Scotia based marijuana growing facility. For more information on Matica Enterprises please visit the website at: www.westislandbrands.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
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
Cautionary Note Regarding Forward-Looking Statements
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 Company assumes no obligation to update the forward-looking statements, or 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 Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian Securities Regulators, which filings are available at www.sedar.com and www.thecse.com.