May 2, 2014 – Toronto, Ontario – Matica Graphite Inc. (CSE;GRF) (“Matica” or the “Company”) announces today that the filing of the Company’s audited annual financial statements for the year ended December 31, 2013, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Filings”) were not be made by the required filing deadline of April 30, 2014 (the “Filing Deadline”). There was a delay in delivery of Matica’s financial statements to its auditors in a timely fashion. Based on discussions with its auditors, Matica believes that the Annual Financial Statements together with the auditor’s report thereon should be finalized by May 22, 2014 and filed, together with Matica’s annual management’s discussion and analysis for the 2013 fiscal year, by the next business day, namely by May 23, 2014.
The Company has filed an application (the “Application”) with the Ontario Securities Commission (“OSC”), as its principal regulator, for a management cease trade order (“Management Cease Trade Order”) in accordance with National Policy 12-203 – Cease Trade Orders For Continuous Disclosure Defaults (“NP 12-203”) If approved, this application would give the Company extra time to complete its audit and file its annual financials without a full cease-trade order being issued.
Until the Annual Financial Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines under Policy Statement 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR.
ABOUT MATICA GRAPHITE
Matica is a junior exploration company with projects in Buckingham Quebec. Buckingham is a historic graphite producing area which has been the scene of renewed exploration activity. The Company has also signed an LOI for, and is reviewing, a graphite property in Nevada. Matica trades on the CSE under the symbol GRF. For more information on Matica and the name change to Matica Graphite visit the website at Maticagraphite.com.
On behalf of the board of Directors
MATICA RESOURCES INC.
CEO & Chairman
For further information, please contact Boris Ziger, Chief Executive Officer, at:
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.
The CSE has not reviewed, approved or disapproved the content of this press release.