TORONTO, April 21, 2015 (GLOBE NEWSWIRE) -- Matica Enterprises Inc. (MMJ - CSE) (39N - Frankfurt) (MQPXF - OTC) ("Matica" or the "Company") is pleased to announce that St. Francis Xavier University has signed a memorandum of understanding with Matica Enterprises' partner and soon-to-be medical marijuana producer under the new Marijuana for Medical Purposes Regulation "MMPR" program THC Dispensaries Canada Ltd. ("THCD"). Frank MacMaster, president of THCD along with St. Francis Xavier's Richard Isnor and Andrew Kendall are teaming up to do research on the effects and usages of the drug.
The Chronicle Herald Article Link: http://thechronicleherald.ca/business/1281266-st.-f.x.-pot-producer-sign-deal-for-medical-study
Matica recently signed a definitive agreement with THCD, a Nova Scotia based MMPR applicant that holds a "Ready to Build" letter from Health Canada and a brand new state of the art, free standing marijuana growing facility. THCD is close to completion of its growing facility with the final installation of its new HVAC air circulating system now underway. Following installation, THCD will undergo the pre-licencing inspection by Heath Canada in order to become the next publically traded Licenced Producer ("LP") under the new MMPR program.
Once granted, the MMPR license will allow Matica and THCD to supply dried marijuana to customers and dispensaries across Canada. THCD's facility is located on 35 acres in Antigonish, Nova Scotia, allowing for production expansion as demand for medical marijuana continues to grow.
Frank MacMaster, president of THCD stated to the Chronicle Herald recently, that shortly after they begin growing medical marijuana this summer, THC Dispensaries is planning to build a new 50,000-square foot facility that has the capacity to expand to 100,000 square feet.
MacMaster continued to say, "You're talking about going from $10 million a year in revenue to $100 million a year, those are numbers you don't usually see in Ohio Valley, Nova Scotia. We can see that in the future, regulations will continue to change and we want to be at the forefront of research."
Matica Enterprises CEO, Boris Ziger states, "The signing of the definitive agreement with THC Dispensaries is a major milestone for Matica and propels the Company forward toward its near term goal of becoming a publicly traded licensed producer of medical marijuana under the new MMPR program. The current installation of the HVAC system is a crucial final component to the THCD facility and brings us one step away from the pre-license inspection by Health Canada."
About Matica Enterprises Inc.
Matica is has signed a definitive agreement to earn a fifty percent interest in THC Dispensaries, Inc ("THCD"), a Nova Scotia applicant under the Marijuana for Medical Purposes Regulation ("MMPR"). THC Dispensaries has received a "Ready To Build" letter from Health Canada and is awaiting the pre-licence inspection to become a Licenced Producer under MMPR. The entire operation sits on 35 acres of land in the town of Antigonish. 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
For further information, please contact Boris Ziger, Chief Executive Officer, at:
Disclaimer for Forward-Looking Information
This news release contains statements about the Company's information that will be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica, specifically any potential licensing under the MMPR, 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. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to receive its Licensed Producer designation for any reason whatsoever. 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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Source:Matica Enterprises Inc.