TORONTO, ONTARIO--(Marketwired - Sept. 18, 2014) - Matica Enterprises Inc. (CSE:GRF)(FRANKFURT:39N) ("Matica" or the "Company") is pleased to announce it has signed a definitive agreement to complete the LOI previously announced on January 14, 2014 to acquire 100% of the highly prospective Grumpy Lizard graphite property near Reno Nevada. The Grumpy Lizard property hosts numerous exposed graphite outcrops that suggest graphite bodies of greater than 10 meters in width, which may run for several kilometres. Data collected from previous exploration combined with minimal overburden and technical expertise is now being used to establish an upcoming exploration program for the Grumpy Lizard.
In addition to the Grumpy Lizard project, Matica's Buckingham Graphite project is comprised of 44 claims in Buckingham Township of south-western Quebec, a well-known graphite rich area. Buckingham and adjacent Lochaber townships have been the scene of much exploration activity with discoveries of large flake graphite. Large flake graphite can be used to produce high value spherical graphite for use in Li-ion batteries like the type used to power electric automobiles.
Matica Enterprises CEO, Boris Ziger states, "The Grumpy Lizard is an important graphite property for Matica. The lack of overburden on the property will make for a fast paced exploration program and the proximity to a potential graphite buyer should hasten the program towards development. The highly prospective nature of this property, when combined with the close proximity to the proposed Tesla Gigafactory make this a very strategic acquisition for Matica."
Under the terms of the definitive agreement, Matica has an option to acquire a 100% interest in the property by paying $35,000 and issuing 3.4 million shares of Matica stock.
The Grumpy Lizard Graphite Property
The Grumpy Lizard graphite property is comprised of 96 claims for a total of 1920 acres. Recent reconnaissance prospecting in the claims area carried out by Gold Exploration Management Services Inc. observed occurrences of large flake graphite exposed at surface. The local terrain is mountainous with very little vegetation due to the arid climate and elevation. The numerous exposed outcroppings observed suggest rock bodies of greater than 10 meter widths which may run for several kilometres within a much more extensive prospective area which is part of ongoing investigations. The current investigations are preliminary and do not conform to the requirements of National Instrument 43-101 and should not be relied upon as an indicator of actual resource or reserve estimates, and should be construed only as conceptual in nature.
About Matica Enterprises Inc.
Matica has an exclusive agreement to market Chlorine Dioxide tablets for use as a natural cleaning and sanitizing product for growing Medical Marijuana without the use of pesticides or fungicides. Matica is further exploring opportunities in the medical marijuana and industrial hemp industries and has currently signed two Letters of Intent establishing joint ventures with two separate advanced marijuana growing facilities in BC and Ontario. Matica has graphite projects in Buckingham, Quebec, an historic graphite producing area which has been the scene of renewed exploration activity. For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
Boris Ziger, CEO & Chairman
The Company's filings are available for review at www.sedar.com and www.thecse.com.
Cautionary Note Regarding Forward-Looking Statements
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 Company assumes no obligation to update the forward-looking statements, or 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 Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian Securities Regulators, which filings are available at www.sedar.com and www.thecse.com.