(TheNewswire)
Toronto, Ontario / TheNewswire / May 23, 2017 – Matica
Enterprises Inc. (MMJ–CSE) (39N – Frankfurt) (MQPXF – OTC PINK) (“Matica” or the “Company”) is pleased to announce
that the Company has reached a third party settlement with regards to the legal action taken against THC Dispensaries
Canada Inc. (“ THCD ”), Francis MacMaster, CEO of THCD and other related parties.
An unrelated third party has agreed to purchase all of the outstanding shares of THCD and complete the build
out of THCD’s medical marijuana facility (“ the facility ”) in preparation for a pre-licence
inspection by Health Canada under the Access to Cannabis for Medical Purposes Regulation (“ACMPR”). THCD is one of several
such facilities that the third party has engaged and is preparing for pre-licence inspection. Matica is to receive shares of the
third party at a deemed value of $700,000 in two tranches of $350,000 each. The first tranche is to be issued on closing and the
second and final tranche is to be issued on the date of issuance by Health Canada of an ACMPR cultivation license in
the name of THCD .
In November 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 damages suffered by Matica as a result of breaches by the defendants of the October 2014 Investment Agreement (“
the Agreement ”).
In October 2014, the Company signed the Agreement with THCD , a Nova
Scotia company for a proposed free standing medical marijuana growing facility. THCD did not complete the facility even though
Matica provided funds over and above the $325,000 initial investment that was required by the Agreement. Matica forwarded a
total of $565,000 to THCD and issued one million common shares of Matica at a deemed value of $130,000.
Boris Ziger, Matica CEO states, “This settlement brings to an end that whole chapter in the Matica story and
allows Matica to move forward unencumbered. Furthermore, we are recouping the funds sent to THCD and can now apply them
towards our new project in Quebec. This is a very positive conclusion for Matica.”
About Matica
Matica recently announced the Company signing of a letter of intent (“LOI”) to earn a 70% interest
in a late stage applicant under the Access To Cannabis For Medical Purposes Regulation (“ ACMPR
”).
For more information on Matica 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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