October 9th, 2014 – Toronto, Ontario – Matica Enterprises Inc. (CSE: GRF) (“Matica” or the “Company”) is pleased to announce it has signed a definitive agreement to acquire THC Dispensaries, Inc. (“THCD”), a Nova Scotia company with a Marijuana for Medical Purposes Regulation (“MMPR”) licence as well as a brand new state of the art free standing facility currently awaiting its final inspection by Heath Canada. THCD has received a “Ready To Build” letter from Health Canada and is awaiting the pre-licence inspection currently scheduled for late October to become an operating Licenced Producer under the new MMPR program.
The MMPR license allows the Company to supply dried marijuana, seeds and organic soil to dispensaries throughout North America and Europe. THCD’s 6,000 square foot facility is located on 35 acres in Antigonish, Nova Scotia, with an additional 16,000 square feet that can be added to maximize the production allowance in this facility to the allotted volume of 806,250 grams per year.
Matica Enterprises CEO, Boris Ziger states, “The signing of this definitive agreement with THC Dispensaries is a major milestone for Matica and propels the Company forward toward its near term goal of becoming a licensed producer of medical marijuana under the new MMPR program. This transaction with THC Dispensaries fully establishes Matica’s position in the medical marijuana industry amongst the few companies that have achieved MMPR producer status.”
Under the terms of the definitive agreement, Matica has an option to acquire a 50% interest in THCD by financing THCD up to $325,000 and further upon THCD becoming a Licensed Producer Matica will finance THCD a further $1,175,000. Matica will also issue 5,000,000 shares of Matica common stock to THCD.
Matica’ shares are currently halted trading by the CSE pending the review of the disclosure related to the change of business to the medical marijuana industry. The Company understands the need for a halt at this stage of the implementation of its change of business and, in order to assist the CSE in their review, has filed an updated Form 2A reflecting the new businesses. The trading will resume as soon as the CSE has completed its review. Matica currently has two outstanding LOI’s with existing medical marijuana producers but will not be proceeding any further with these companies.
Matica has an exclusive agreement to market Chlorine Dioxide tablets for use as a natural cleaning and sanitizing product for growing Medical Marijuana without the use of pesticides or fungicides. Matica has multiple highly prospective graphite properties including the Grumpy Lizard property near Reno Nevada, and the Buckingham graphite property in quebec, a historic graphite producing area which has been the scene of renewed exploration activity. 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
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 StatementsCertain 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.