Matica Enterprises Inc. (CSE:MMJ) (FSE:39N) (OTCQB:MMJFF) (“Matica” or the “Company”) is pleased to announce that its subsidiary, RoyalMax Biotechnology Canada Inc. (“RoyalMax”), has been informed by Health Canada that its application to amend the licences to add sales of dried cannabis has been advanced from the paper review stage. This is an important step forward for Matica and RoyalMax as the application has been advanced to the inspection stage.
RoyalMax has begun the provincial sales application process and is in advanced discussions with several provincial authorities to commence recreational sales. Upon expected receipt of the amendment, RoyalMax will begin introducing new cannabis brands to the Canadian marketplace.
COVID-19 has undoubtedly had an effect on the approval process and its timelines, as it has in all aspects of the business. At this time, the Company cannot predict when the amendment will be granted by Health Canada. The Company will provide prompt updates on any further progress as it unfolds.
Matica is a multi-faceted, innovative company in the Quebec cannabis space. Its subsidiary, RoyalMax Biotechnology Canada Inc. is a Dorval, Quebec based Health Canada Licence Holder. RoyalMax has been granted a standard cultivation licence, standard processing and medical sales licences by Health Canada. In the township of Hemmingford, Matica is building 1,000,000 square feet of greenhouse growing space, in 200,000 square foot increments, on a sprawling 181 acre property.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
Boris Ziger, CEO & Chairman
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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