Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTCQB: MMJFF) ("Matica" or the "Company") and Matica subsidiary, West Island Culture Inc. ("West Island") are pleased to introduce our newest cannabis brand to the market CITOYENTM . CITOYENTMis a more accessible brand of quality cannabis to come out of Montreal's West Island, The People's Flower.
All CITOYENTM flower products are craft grown, quality cannabis offerings at lower entry prices and with greater volumes in comparison to our premium OuestTM products. There are currently two product families in the CITOYENTMbrand. CITOYENTMGold Star products are high THC craft products. The CITOYENTM Red Star craft products have a mid to high THC range. Both sets of products still offer the strong bag appeal found with the QuestTM brand stemming from our focus on rich terpene profiles and attractive visual attributes. The CITOYENTM brand strives to provide a greater number consumers with a taste of what a high quality bud in the legal market should be.
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To learn more about The People's Flower please go to citoyencannabis.ca
Please follow us to for more updates on our exciting new ranger of cannabis products from CITOYENTM and their availability in your province.
As per Matica press release dated November 16, 2020, Matica increased its position in its subsidiary, RoyalMax Biotechnology Canada Inc. DBA West Island Culture ("RoyalMax"), from 70% to 99.97%. In March 2021, the Company was served with a nuisance lawsuit by 9076484 CANADA INC., seeking principally an order declaring that it is a 14.5% owner of RoyalMax Biotechnology Canada Inc. The Company believes the claim is frivolous and without merit. The Company will aggressively defend itself and seek all available remedies under the law.
Further, the Company was served a 2nd nuisance lawsuit by Cannatechnologie Inc. The Plaintiff is seeking payment of $200,000 which Matica acknowledges are owed, but, owed to parties other than Cannatechnologie Inc. Also, Cannatechnologie Inc. is seeking an order overturning RoyalMax' issuance of shares to Matica as per the aforementioned press release of November 16, 2020. The Company believes each of these 2 lawsuits is without merit and were commenced in order to seek a payment via a settlement. The Company will aggressively defend itself, and seek all available remedies under the law.
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 with standard cultivation licence, standard processing, medical sales and sales licences. Matica continues to work with Yunify Natural Technologies, a Quebec based health and personal care research and innovation company to develop proprietary products for Matica and RoyalMax, including topicals and ionic mists. Through its acquisition of Trichome Treats, an award winning chocolatier, Matica and RoyalMax intend on introducing edibles into the RoyalMax product mix.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84160