April 3, 2018 – Toronto, Ontario – Matica Enterprises Inc. (MMJ – CSE) (39N – Frankfurt) (MQPXF – OTC) (“Matica” or the “Company”) is pleased to announce that BWBI Corporation, an affiliate of Hampstead Private Capital Ltd., a Bermuda based investment firm, has increased their holdings in the Company by way of a non-brokered private placement consisting of 1,500,000 units at a price of $0.35 per unit for aggregate gross proceeds of $525,000.00. 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 24 months from the closing date at an exercise price of $0.45 per warrant.
Mr. Starke comments “The Quebec market offers an interesting opportunity with only six licenses granted to date and with the second most populous province in Canada at over eight million people. We believe Matica is well positioned to take advantage of this market opportunity and we look forward to working with management to build out the company upon receipt of the ACMPR license.”
Mr. Clifford Starke is the Chairman of Hampstead Private Capital. Mr. Starke has acted as a consultant, advisor, and/or director to over fifteen publicly listed companies and has been an early shareholder of companies that have created over $7 billion in market capitalization. In the cannabis space, Mr. Starke has been an strategic investor and Director of Namaste Technologies Inc., an early stage investor and financier of Nuuvera Corp. prior to their $826 million cash and share takeover by Aphria Inc, and also Chairman of Marigold Projects Jamaica Ltd., a leading vertically integrated medical cannabis company based in Jamaica.
Mr. Ziger states “We are pleased that Mr. Starke has shown his commitment to the Company with an increase in his ownership stake of Matica as we draw closer to achieving the ACMPR license in Quebec. We look forward to working with him as we enter Matica’s next phase of growth.”
The proceeds of private placement will be used 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.
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, CEO & Chairman
For further information, please contact Boris Ziger, Chief Executive Officer, 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 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.