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Matica Enterprises Inc. provides an update on the status of the applications for licences by RoyalMax Biotechnology Canada Inc. (“RoyalMax”) for the Dorval facility.
Matica Enterprises Inc. (CNSX:MMJ, OTCQB:MMJFF) (Frankfurt:39N) (“Matica” or the “Company”) is pleased to provide an update on the status of the applications for licences for both Standard Processing and Sales For Medical Purposes by RoyalMax Biotechnology Canada Inc. (“RoyalMax”) for the Dorval facility. Samples from the first, second, third, fourth and fifth crops have been dried (198.24 Kg dried weight) and have been submitted for independent laboratory testing. Upon receipt of the currently outstanding independent laboratory results, expected this month, RoyalMax intends to submit for both a Standard Processing Licence and a Sales For Medical Purposes licence.
Boris Ziger CEO of Matica, notes that “Initial testing has yielded THC levels from a low of 8.20 to a high of 14.18% for crop four. RoyalMax staff and consultants have been working to refine and enhance the quality of the crops for its THC content and its overall aroma and appearance to provide a superior experience for the end consumer. Visual site inspection of the fifth crop suggests that they may have achieved their goal.”
RoyalMax is growing hand tended, small batch cannabis at the Dorval facility. Sensi Star, a noted medium to high THC strain, is currently being grown at Dorval. RoyalMax has harvested a total of 198.24 kg of dried flower in the first four crops. RoyalMax is maintaining a selection of mother plants to generate its own clones. The Company is also in the process of acquiring additional strains to compliment its product mix.
Matica is earning a 70% interest in RoyalMax. Matica will receive a 65% interest in RoyalMax (currently held in trust) upon the receipt of a sales licence. Matica will earn an additional 5% interest in RoyalMax (also currently held in trust) upon payment of the final $400,000, due 12 months after licencing. Matica may elect to pay the final $400,000 earlier to receive the additional 5% earlier.
About Matica
Matica is a multi-faceted, innovative company in the Quebec cannabis space. RoyalMax Biotechnology Canada Inc. has been granted a standard cultivation licence by Health Canada for the production facility in Dorval, Quebec. Matica intends to build 1,000,000 square feet of greenhouses, in 200,000 square foot increments, on a 181 acre property in the township of Hemmingford, south of Montreal. Matica has entered into an agreement with Yunify Natural Technologies, a Quebec based health and personal care research and innovation company to develop proprietary products for Matica and RoyalMax.
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
Boris Ziger, CEO & Chairman
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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