(via TheNewswire)
May 29, 2019 / TheNewswire / Toronto, Ontario - Matica Enterprises Inc. (MMJ - CSE) (39N - Frankfurt) (MMJFF - OTCQB) ("Matica" or the "Company") is very pleased to announce that the Company has SEDAR filed the Unaudited First Quarter Financial Statements and corresponding Management Discussion and Analysis for the three months ended March 31, 2019.
Highlights include:
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As at March 31, 2019
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Cash
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$ 6,437,070
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(increase of $1,122,132 since Dec.31, 2018)
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Marketable Securities
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$ 1,118,565
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(decrease $692,685 since Dec.31, 2018)
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Working Capital
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$ 7,731,299
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(increase of $689,552 since Dec.31, 2018)
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Proceeds Received Subsequent to March 31, 2019:
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Sale of Marketable Securities
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$ 478,210
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The Marketable Securities value of $1,118,565 at March 31, 2019 represents the 1,775,500 common shares of Biome Grow Inc. valued at March 31, 2019. Subsequent to March 31, 2019, Matica has sold an additional 835,500 common shares of Biome Grow Inc. for net proceeds of $478,210.
George A. Brown, Director and Interim CFO states: "The Company's financial position continues to be strong with our cash position increasing by 21.1% during the first quarter of 2019. This is providing funding of the Phase 1 construction of a 200,000 square foot greenhouse in Hemmingford, Quebec. The initial five acres required for the footprint of a 200,000 square foot greenhouse were cleared and levelled in 2018. This spring we expect to complete the gravel and cement foundations. The greenhouse erection is expected to be completed over the summer."
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors,
MATICA ENTERPRISES INC.
George A. Brown
George A. Brown, Director and Interim CFO
The Company's public filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, at:
Telephone: 416-304-9935
E-mail: info@maticaenterprises.com
Website: www.maticaenterprises.com , www.maticammj.com
Disclaimer for Forward-Looking Information
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.
This news release contains statements about the Company's information that may be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
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