Toronto-based weedco/miner/agri supplier Matica Enterprises (CSE:C.MMJ, Stock Forum) has made clear its focus on the burgeoning medical marijuana sector by shifting its ticker symbol from GRF to the highly valued MMJ, the CSE announced Friday.
The company, which holds interests in a graphite mine, a rare earths play, an agricultural supplement product line and a Nova Scotia based 'Ready To Build' MMPR applicant, is zeroing in on the MMPR play as its primary focus, has completed a change of business process, and is now preparing for Health Canada's Pre-License Inspection of the facility, says CEO Boris Ziger.
“If granted, Matica will become the sixth publicly traded company with an MMPR license,” he said in a news release.
The other public companies with LP designations are Organigram (TSX:V.OGI, Stock Forum), Bedrocan (TSX:V.BED, Stock Forum), T-Bird Pharma (TSX:V.TPI, Stock Forum), Tweed (TSX:V.TWD, Stock Forum) and Mettrum (TSX:V.MT, Stock Forum), with T-Bird running the lowest market cap at $26.3m, a four-times multiple on Matica's $6.3m cap with similar square footage of grow space.
The THC Dispensaries (THCD)-operated facility at Antigonish, Nova Scotia, sits on 35 acres of land. Matica paid its first installment on its stake of the company last week, and announced a second tranche private placement closing to cover upgrade costs at the facility in advance of inspection.
Matica stock resumed trading November 14 after a long trade halt, jumping to $0.15. The stock settled back to as low as $0.11 midweek, but has surged of late on expectation the next step on the MMPR application process will be completed soon.