Toronto, Ontario--(Newsfile Corp. - April 29, 2015) - Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTC: MQPXF) ("Matica" or the "Company") announces today that it will not be in a position to file its audited annual financial statements (the "Annual Financial Statements"), management's discussion and analysis and related certifications for the fiscal year ended December 31, 2014 on or before April 30, 2015, as required, as a result of unanticipated delays associated with compiling the requisite financial information to prepare the Annual Financial Statements.
Based on discussions with its auditors, Matica believes that the Annual Financial Statements together with the auditor's report thereon should be finalized by May 22, 2015 and filed, together with Matica's annual management's discussion and analysis for the 2014 fiscal year, by the next business day, namely by May 23, 2015.
The Company has filed an application with the Ontario Securities Commission, as its principal regulator, for a management cease trade order in accordance with National Policy 12-203 — Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). If approved, this application would give the Company extra time to complete its audit and file its annual financials without a full cease-trade order being issued.
Until the Annual Financial Statements have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR.
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 the town of Antigonish. For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
/s/Boris Ziger
Boris Ziger, CEO & Chairman
The Company's filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, Chief Executive Officer, at:
Telephone: 416-304-9935
E-mail: info@maticaenterprises.com
Website: www.maticaenterprises.com
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 Corporation assumes no obligation to update the forward-looking statements, or to 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 Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
The CSE has not reviewed, approved or disapproved the content of this press release
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