Matica Completes Site Visit and LOI for Second Marijuana Facility
August 25, 2014 (Source: Marketwired) — Matica Enterprises Inc. (CSE:GRF) (FRANKFURT:39N) announces the successful completion of its site visit and inspection of West Coast Medical Marijuana Group’s (“WCMMJ“) growing facility in Langley B.C. This is Matica’s second medical marijuana growing related Letter Of Intent “LOI” establishing a joint venture on WCMMJ’s advanced growing operations. Matica and WCMMJ intend to submit an application to become a licensed producer under the new Marijuana for Medical Purposes Regulations (“MMPR“) shortly.
The WCMMJ growing facility is located in Langley, BC with approximately 12,500 square feet of growing space, currently operating 310 lights with room for expansion. The operation sits on over 10 acres of land in a rural jurisdiction making it ideal for future expansion and upgrades in accordance with MMPR license requirements. WCMMJ has been growing medical marijuana with high CBD levels since 2010, producing a quality product suitable for a wide variety of applications ranging from smokable to edible marijuana as well as cannabinoid research and development.
Matica has now established two separate LOIs with two advanced medical marijuana growing facilities in BC and Ontario with WCMMJ and ChroniCare respectively, as well as establishing an exclusive sales agreement for GlobalEx’s Chlorine Dioxide tablets for use in marijuana growing as a natural pesticide alternative. Both ChroniCare and WCMMJ have been and are currently producing medical marijuana under Marijuana Medical Access Regulations (“MMAR“) licenses and both operations will be applying for the new MMPR license that would allow Matica to become a licensed producer in two provinces across Canada, reaching a nation-wide customer base.
Matica Enterprises CEO, Boris Ziger states, “We are very impressed with the high quality of West Coast Medical Marijuana Group’s Langley, BC growing facility and intend to work closely with these established growers to obtain our new MMPR license approval. Matica has been successful in its strategy of establishing joint ventures with multiple advanced stage marijuana producers in order to diversify risk and provide significant value to its shareholders by having exposure to multiple pending MMPR license applications.”
Ziger continues to say, “We are looking at opportunities across the entire industry. Matica has secured an exclusive sales agreement for GlobalEx Chlorine Dioxide tablets for use in marijuana growing operations as a natural cleaning and sanitizing agent that could eliminate the need for pesticides and fungicides. We will continue to evaluate new opportunities within this quickly expanding sector while advancing our current operations in a timely manner.”
Testing of Chlorine Dioxide Tablets at BC Facility
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WCMMJ is currently conducting testing on the effectiveness of Matica’s exclusive GlobalEx Chlorine Dioxide tablets in their B.C. marijuana growing operations and will be assisting in developing a cleaning and sanitizing regime for growing Medical Marijuana without the use of pesticides or fungicides to produce a superior quality product that meets the high standards set by Health Canada. Management anticipates that test results from WCMMJ’s BC facility will return the same successful results as the tests recently conducted by ChroniCare at the Ontario facility.
About Matica Enterprises Inc.
Matica is exploring opportunities in the medical marijuana and industrial hemp industries and has currently signed two Letters of Intent establishing joint ventures with two separate advanced marijuana growing facilities in BC and Ontario. Matica has an exclusive agreement to market GlobalEx Chlorine Dioxide tablets for use as a natural cleaning and sanitizing product for growing Medical Marijuana without the use of pesticides or fungicides. Matica will continue exploration on its graphite projects in Buckingham, Quebec. Buckingham is an historic graphite producing area which has been the scene of renewed exploration activity. 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 filings are available for review at www.sedar.com and www.thecse.com.
Cautionary Note Regarding Forward-Looking Statements
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 Company assumes no obligation to update the forward-looking statements, or 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 Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian Securities Regulators, which filings are available at www.sedar.com and www.thecse.com.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>