Matica Enterprises Inc. (CSE:MMJ) (Frankfurt:39N) (OTCQB:MMJFF) (“Matica” or the “Company”) is very pleased to announce that the Company has SEDAR filed the Audited Annual Financial Statements and corresponding Management Discussion and Analysis for the fiscal year ended December 31, 2018.
The Marketable Securities value of $1,811,250 at December 31, 2018 represents the 2,625,000 common shares of Biome Grow Inc. which were received in exchange for the 525,000 common shares of Cultivator Catalyst Corp. that had been received as a settlement of the $700,000 legal claim made by Matica against THC Dispensaries Canada Inc. Subsequent to December 31, 2018, Matica has sold 1,515,000 common shares of Biome Grow Inc. which has replaced the cash originally invested into THC Dispensaries Canada Inc.
George A. Brown, Director and Interim CFO states: “The Company’s financial position has improved significantly with our working capital increasing by 50.7% during 2018. This will provide funding of the Phase 1 construction of a 200,000 square foot greenhouse in Hemmingford, Quebec. The initial five acres required for the footprint of a 200,000 square foot greenhouse were cleared and levelled in 2018. This spring we expect to complete the gravel and cement foundations. The greenhouse erection is expected to be completed over the summer.”
The Company would also like to announce that Mr. Denis Bouchard has resigned as a Director effective April 30, 2019. We thank him for his service and we wish him well in his future endeavours.
On behalf of the Board of Directors,
MATICA ENTERPRISES INC.
George A. Brown
George A. Brown, Director and Interim CFO
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
The Company’s public filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, at:
Disclaimer for Forward-Looking Information
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.
This news release contains statements about the Company’s information that may be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
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