May 1, 2018 – Toronto, Ontario – Matica Enterprises Inc. (MMJ – CSE) (39N – Frankfurt) (MQPXF – OTC) (“Matica” or the “Company”) is very pleased to announce that the Company has SEDAR filed the Audited Financial Statements and corresponding Management Discussion and Analysis for the year ended December 31, 2017.
|As At Dec. 31, 2017|
|Proceeds Received Subsequent to Dec 31, 2017:|
|Exercise of stock options||$2,884,000|
|Exercise of warrants||$2,232,886|
|Private Placement||$ 525,000|
The Marketable Securities value of $1,050,000 represents the 525,000 shares received as a third party settlement of the $700,000 claimed from THC Dispensaries Canada Inc. This is based upon third party SEDAR filings of financings closed in December 2017 at $2.00 per share. The Marketable Securities value has increased to $1,575,000 at March 31, 2018 based upon SEDAR filings of a Q1 financing closed at $3.00 per share. We expect that this value will further increase as at June 30, 2018 based upon notification of a financing currently underway at $5.00 per share.
The Company also expects that most of the remaining 807,568 broker warrants exercisable at $0.05 and the 24,711,500 warrants exercisable at $0.10 will be exercised for proceeds of $2,511,528 prior to their January 10, 2019 expiry date.
George A. Brown, Director and Interim CFO states: “The Company has never been in a greater financial position. Our projected available working capital for the planned 2018 Phase 1 construction of a 200,000 square foot greenhouse is over $10 million without additional financing. We are actively seeking quotes for construction which is expected to commence in June 2018. These are exciting times of growth for Matica. This projected $10 million is in addition to the remaining $1,400,000 to be invested in Yunify , a line of credit secured by a mortgage being extended to purchase the 181 acre property, and the projected general and administrative expenses required to operate Matica through to the end of 2018. We are also very pleased that our settlement for the $695,000 invested by Matica into THC Dispensaries Canada Inc. is valued at $1,575,000 at March 31, 2018 and is expected to increase to $2,625,000 upon the close of a reported financing underway at $5.00 per share.”
For more information on Matica Enterprises please visit the website at: www.westislandbrands.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
George A. Brown
George A. Brown, Director and Interim CFO
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 may 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.