|By Marketwired .||
|July 4, 2014 08:27 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/04/14 -- Matica Enterprises Inc. (CSE:GRF) ("Matica" or the "Company") is pleased to announce it has changed its name from Matica Graphite Inc. to Matica Enterprises Inc. in accordance with the Company's proposed move out of the resource sector. The Company's shares will continue to trade on the Canadian Securities Exchange under the symbol GRF.
Matica Enterprises CEO & Chairman Boris Ziger states, "We are changing our name to better reflect the company's primary focus moving forward. We are now exploring a move into medical marijuana with an experienced team of high quality growers and CBD specialists. As we announced last month, Matica has entered into a letter of intent with ChroniCare Canada Inc. with the intention of applying for and becoming a licenced producer ("LP") under the new Marijuana for Medical Purposes Regulations ("MMPR") act. Matica will be actively exploring additional opportunities in the marijuana and industrial hemp industries."
Matica announced on June 18th 2014 that it had entered into a non-binding letter of intent (the "LOI") with ChroniCare Canada Inc. ("ChroniCare"). ChroniCare is a private company based in Mississauga, Ontario which has been producing medical marijuana under a Marijuana Medical Access Regulations ("MMAR") license since 2012. ChroniCare and Matica intend on applying for and becoming licensed under the new Marijuana for Medical Purposes Regulations ("MMPR") shortly.
ChroniCare's team of experienced growers have been producing high quality strains of medical marijuana with high cannabidiol ("CBD") percentages under the MMAR licence. CBD's are one of the active ingredients in medical marijuana most associated with medicinal uses including pain control and seizures. ChroniCare has been an industry leader with experience in large scale growing environments, producing high quality product in a variety of growing mediums including hydroponic systems.
Cannabidiol ("CBD") is a compound in cannabis that has significant medical effects, but does not make people feel "stoned" and can actually counter the psychoactivity of THC. The reduced psychoactivity of CBD-rich cannabis may make it an appealing treatment option for patients seeking anti-inflammatory, anti-pain, anti-anxiety, anti-psychotic, and/or anti-spasm effects without disconcerting lethargy or dysphoria.
About Matica Enterprises Inc.
The Company will continue to explore options in the medical marijuana industry. While pursuing alternative projects, Matica will also continue to conduct exploration on its resource projects. Matica has graphite projects in Buckingham, Quebec. Buckingham is an historic graphite producing area which has been the scene of renewed exploration activity. Matica trades on the CSE under the symbol GRF. For more information on Matica visit the website at www.maticaenterprises.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
Boris Ziger, CEO & Chairman
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.