RE:RE:RE:grf okay i checked 40%
You missed couple key things when you re read that news...Pay close attention here. Dont forget MMAR licenses will be canceled once MMPR system is implemented... The Proposed Transaction Under the proposed terms and conditions, and following the signature of the definitive agreement (the "Definitive Agreement"), Matica and ChroniCare will form a JV to establish a marijuana growing operation in Ontario with the intent of becoming licensed under the Marijuana for Medical Purposes Regulations ("MMPR"). There can be no assurance that the JV will apply for a license or that such a license will ultimately be granted. Matica will have a 60% interest and ChroniCare will have a 40% interest in the JV. Matica will provide financing for the new JV up to an aggregate of $1,500,000. ChroniCare will act as operator of the JV and provide its expertise related to marijuana growing. Matica will further issue to ChroniCare 500,000 shares of Matica shares upon execution of the Definitive Agreement. The Proposed Transaction is an arm's length transaction. Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to: (a) entering into the Definitive Agreement; (b) completion of due diligence; (c) CSE acceptance; and (d) if necessary, Matica shareholder approval. The Proposed Transaction cannot close until the conditions are satisfied. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Trading in the securities of Matica should be considered highly speculative. Should the JV opt to become a producer and choose to make an application, we will need to complete Health Canada's Application To Become A Licenced Producer Under The Marijuana For Medical Purposes Regulations (MMPR). Any Canadian based project would need to meet stringent requirements as outlined by Health Canada. Any entity applying for a license from Health Canada would need to be an indoor facility equipped with physical barriers which prevent unauthorized entry in to the facility and further physical barriers to all growing areas are required.