Matica Enterprises Inc. (CSE:MMJ;FWB:39N;OTCPink:MQPXF) (“Matica” or the “Company”) is pleased to announce that RoyalMax Biotechnology Canada Inc. (“RoyalMax”) has received its updated licence in accordance with Health Canada’s Cannabis Act and Cannabis Regulations and has completed its migration to the new Cannabis Act and the Cannabis Tracking and Licensing System (“CTLS”).
The Standard Cultivation License, in addition to cultivation, permits a holder to sell cannabis in accordance with subsection 11(5) of the Cannabis Regulations. This new license authorizes RoyalMax to sell dried cannabis flower, seeds and plants to other qualified license holders:
a holder of a licence for micro-cultivation or standard cultivation,
a holder of a licence for processing,
a holder of a licence for analytical testing,
a holder of a licence for research,
a holder of a cannabis drug licence; and,
it further allows sale and distribution of cannabis plants and seeds to a holder of a nursery licence or, to a holder of a license for sale, or a person authorized to sell cannabis under a provincial act.
Matica CEO, Boris Ziger states “This updated license from Health Canada will allow RoyalMax to generate potential revenues almost immediately and will enable the company to further seek out strategic partnerships such as our product research and development arrangement with Yunify Natural Technologies.”
Dorval Facility Update
Since the granting of the cultivation licence, RoyalMax and Matica have been filling positions at the Dorval indoor growing facility. Final preparations have been made for the arrival of clones. Starting materials have been ordered and are expected to arrive in the upcoming weeks. RoyalMax is required to grow two successful crops before receipt of the full sales licence.
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, 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, Chief Executive Officer, at:
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.