|By Marketwired .||
|July 8, 2014 06:56 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/08/14 -- Matica Enterprises Inc. (CSE: GRF) ("Matica" or the "Company") is pleased to announce that further to the Company's May 8, 2014 press release, Matica has closed a non-brokered private placement of 9,130,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $456,500 (the "Offering"). Each unit is comprised of one common share (a "Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (a "Common Share") for a period of 18 months from the closing date at an exercise price of $0.07 per warrant.
Matica CEO & Chairman Boris Ziger states, "This is truly an exciting time for Matica as we shift our focus to include the medical marijuana and cannabinoid sector. Matica is currently evaluating multiple diverse business opportunities within this sector and has recently changed its name to better reflect the company's primary focus moving forward. We are currently working closely with an experienced team of high quality growers and industry specialists to identify potential takeover targets with deep value potential to add to our portfolio of 'green' projects."
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.
The proceeds of the Offering will be used for general working capital purposes. Certain directors and employees of the Company as a group participated in up to 25% of the Offering. The Company paid a finder's fee consisting of: a fee in common shares equal to 10% of the proceeds raised by such finder as part of the Offering.
About Matica Enterprises Inc.
The Company will continue to explore options in the medical marijuana and industrial hemp industries. 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.