As will be their legal bills. I'd say they are 0-1 to date.
NOVA SCOTIA MMPR
In October 2014 Matica signed a definitive agreement to earn a fifty percent interest in THC Dispensaries Canada, Inc (“THCD”), a Nova Scotia applicant under the Marijuana for Medical Purposes Regulation (“MMPR”). Under the terms of the definitive agreement, Matica has an option to acquire a 50% interest in THCD by financing THCD up to $325,000 and further upon THCD becoming a Licensed Producer Matica will finance THCD a further $1,175,000. Matica will also issue 5,000,000 shares of Matica common stock to THCD. The Agreement provided that, should a licence not be granted by Health Canada by October 31, 2015, the Agreement would terminate and Matica would return its 50% shareholding in THCD to the Defendants.
In December 2015 Matica filed a Notice of Civil Claim in the Vancouver Registry of the Supreme Court of British Columbia naming THCD, Francis MacMaster, CEO of THCD and other related parties as Defendants in an effort to recoup funds and other damages suffered by Matica as a result of numerous breaches by the Defendants of the October 7th, 2014 Investment Agreement.
The Company entered the Agreement with THCD on the basis of THCD’s representations that it had nearly completed construction of the facility and that it was awaiting the pre-licence inspection by Health Canada to become the newest Licensed Producer under the MMPR program. This inspection was expected to take place in late 2014. The Company contends that Francis MacMaster, CEO of THCD, knowingly and deliberately delayed the completion of the facility and created conditions by which the October 31, 2015 deadline would not be met. The Company has not surrendered its share of THCD and will not do so until the Court has ruled upon the merits of the claims.
Matica abided by all terms and conditions of the Agreement and forwarded funds as per the Agreement. Matica forwarded an additional $240,000 over and above the initial $325,000 payment. THCD did not complete the facility and continually requested additional funds in addition to what was required by the Agreement. All of Matica’s reasonable proposals were rejected by Francis MacMaster. Currently, the facility is still not completed and is not prepared for inspection by Health Canada.