Matica Provides an Update on the Value of Settlement Shares
October 22, 2018 / TheNewswire / Toronto, Ontario – Matica Enterprises Inc. (MMJ - CSE) (39N – Frankfurt) (MQPXF – OTC) (“Matica” or the “Company”) is pleased to congratulate Biome Grow Inc. (CSE: BIO) on the successful completion of their Amalgamation Agreement and subsequent listing effective October 9, 2018 on the Canadian Securities Exchange (“CSE”).
Matica received 525,000 common shares of Cultivator Catalyst Corp. (“CCC”) as full settlement of the legal claims filed by Matica against THC Dispensaries Canada Inc. (“THCD”) for the $695,000 previously invested by Matica in THCD.
Based upon several financings at $5.00 per share reported by CCC in their third quarter, these shares will be carried on the balance sheet of Matica at September 30, 2018 at a value of $2,625,000 representing an increase of $525,000 from the value reported at June 30, 2018 and an increase of $1,575,000 from the value reported in the audited December 31, 2017 financials.
Subsequent to September 30, 2018, the 525,000 common shares of CCC have been exchanged for 2,625,000 common shares of Biome Grow Inc. which will be carried at their listed value on future quarterly financials.
Mr. George A. Brown, Director and Interim CFO states: ‘We feel that it is important for our shareholders to know that Matica has successfully recovered several times the original investment in THCD and that the success of Biome Grow continues to contribute to our success.”
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
George A. Brown, Interim CFO
The Company’s 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
This news release contains statements about the Company’s information 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.