TORONTO, ONTARIO--(Marketwired - Jan. 14, 2015) - Matica Enterprises Inc. (CSE:MMJ)(FRANKFURT:39N)(OTC PINK:MQPXF) ("Matica" or the "Company") is pleased to announce that the Company has begun surface work on the Grumpy Lizard project. The Grumpy Lizard is a 1,920 acre graphite property outside of Reno, Nevada consisting of 96 claims. Reno, Nevada is the locale for the newly proposed "Gigafactory" lithium ion battery plant. As per the January 6, 2015 News Release, Matica is undertaking a plan of arrangement which will involve the divestiture or spinoff of certain assets into four new subsidiary companies. One of the subsidiaries will be named Ravenline Explorations Ltd. ("Ravenline") and will include all of the mining assets including the Grumpy Lizard in Nevada. The record date for this transaction is Thursday January 15, 2015 and shareholders who hold the stock as of record date will participate in the spinoff transactions. As a separate company, Ravenline will have enhanced access to the capital necessary to finance its growth strategy and will have independent public reporting. With shareholder approval, Ravenline will manage and develop current and future mining projects, as well as seek a listing on the Canadian Stock Exchange, the CSE.
An extensive program of mapping and sampling has commenced on the Grumpy Lizard claims including mapping of the very extensive graphite bearing lithologies, sampling of the coarsest bands of graphite andalusite schist, mapping of structures and contact zones with the purest flake graphite material. The area of interest is very extensive, with graphite bearing material exposed in an area exceeding 10 x 15 km in a zoned complex. All is graphitic but the grain size and matrix vary among host environments. The priority targets are graphite - andalusite schist zones which are exposed in bands from two to forty meters in width and show strike continuity along the 2 to 3 km ridges. Higher quality material exists in granite associated metamorphic zones and associate shear/ fault zones. These premium targets are the focus of the program in progress at this time. Permitting for drilling will be influenced by these mapping and sampling results. The company's priority is consequently developing field and analytical criteria for the drill targets with SGS Lakefield Laboratories using ICP, sulphur, total carbon and graphite analyses and petrography to evaluate the amenability of the various styles of graphite mineralized material for processing.
To refine these methods an initial shipment of thirty samples, most of which represent average materials across true widths of one meter within much wider zones of possible interest are being delivered to SGS Lakefield Laboratories. Pursuant to instructions from the laboratory, samples range in weight from 1.5 to 2.5 kg and average about 2 kg. It is important that no sulphides or metal oxides have been noted in the mapping to date. Specific criteria will be developed for each style of material. Exposure is more than 50% and the geological work, in conjunction with airborne EM to map the strongest conductive zones will provide a firm foundation for the contemplated drilling program. The technical disclosures specific to this geological work and exploration planning in this document have been prepared by and are the responsibility of David Bending, M.S.c., P.Geo., a Qualified Person pursuant to NI 43-101.
About Matica Enterprises Inc.
Matica is has signed a definitive agreement to earn a fifty percent interest in THC Dispensaries, Inc ("THCD"), a Nova Scotia applicant under the Marijuana for Medical Purposes Regulation ("MMPR"). THC Dispensaries has received a "Ready To Build" letter from Health Canada and is awaiting the pre-licence inspection to become a Licenced Producer under MMPR. The entire operation sits on 35 acres of land in Antigonish. Matica will spinoff of certain assets into four new subsidiary companies. Following the four spinoff transactions, Matica's operations will focus solely on obtaining its MMPR licence from Health Canada for its state-of-the art Nova Scotia based marijuana growing facility. 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.