Matica Closes Private Placement For Funding Of Dorval Faciity
(TheNewswire)
July 10, 2017 / TheNewswire / Toronto, Ontario - Matica Enterprises Inc. (MMJ - CSE) (39N - Frankfurt) (MQPXF - OTC) ("Matica" or the "Company") is pleased to announce it has closed a non-brokered private placement consisting of 50,306,000 units at a price of $0.05 per unit for aggregate gross proceeds of $2,515,300.00. Each unit is comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the Company for a period of 18 months from the closing date at an exercise price of $0.10 per warrant.
With this raise, Matica has sufficient funds to fulfill its obligations to fund the $2,200,000 build out of the Dorval facility. Matica and RoyalMax Biotechnology Canada Inc. ("RoyalMax") have entered into a definitive agreement which will allows Matica to acquire an initial sixty-five percent (65%) interest with the right to earn an additional five per cent (5%). Matica is striving to have RoyalMax become the second licensed producer in the province of Quebec.
The proceeds of private placement will be used to complete the build out of the ten thousand square foot (10,000 sq. ft.) facility in Dorval, Quebec and for general working capital purposes. All securities purchased under this financing are subject to a four month hold period. Finder's fees of eight per cent of the proceeds raised, where applicable, are being paid in accordance with the policies of the CSE. Completion of the financing is subject to the acceptance of the CSE.
About Matica
Matica has an agreement with RoyalMax Biotechnology Canada Inc. for Matica to become a majority owner (70%) of the late stage applicant under the Access to Cannabis for Medical Purposes Regulation ("ACMPR"). Through RoyalMax, Matica is diligently moving forward with its application to become a Licensed Producer of medical marijuana under ACMPR.
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
Boris Ziger, CEO & Chairman
The Company's public 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@maticaenterprises.com
Website: www.maticaenterprises.com
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 will 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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