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Matica Enterprises arranges $1-million private placement

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_db_   Wednesday, 02/04/15 09:43:08 AM
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Matica Enterprises arranges $1-million private placement

2015-01-28 12:04 ET - News Release

Mr. Boris Ziger reports

MATICA TO RAISE FUNDS THROUGH BROKERED PLACEMENT

Matica Enterprises Inc. has engaged Jacob Securities Inc. to act as agent in connection with a best-efforts private placement offering of units of the company at a price of eight cents per unit for gross proceeds of up to $1-million. Each unit will comprise one common share and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one additional share at an exercise price of 15 cents per warrant for a period of 36 months from the closing date.

As consideration for acting as agent, the agent will receive a commission of 8 per cent of the funds raised in connection with the offering, as well as such number of broker warrants as is equal to 8 per cent of the units issued in connection with the offering. Each broker warrant shall entitle the holder thereof to acquire a unit at an exercise price of eight cents for a period of three years following the closing of the offering.

The full offering is expected to close on or around Feb. 20, 2015, with multiple tranches occurring prior to the final closing. Upon closing, the proceeds of the offering will be used for financing a milestone payment to THC Dispensaries Inc., a Nova Scotia applicant under the Marihuana for Medical Purposes Regulation (MMPR) that is in the final stages of completing the build on a state-of-the art marijuana growing facility with a ready to build status, as well as for the operational and general working capital purposes of Matica.

Further, Matica is pleased to advise that a portion of funds raised in connection with the offering will be used to finance the delivery and installation of an HVAC system at the THC medical marijuana growing facility. Upon completion of the installation of the HVAC system, Matica and THC Dispensaries anticipate that the facility will be ready for a prelicence inspection by Health Canada.

Matica's chief executive officer, Boris Ziger, states: "We anticipate the completion of our Nova Scotia ready to build MMPR facility shortly. Once complete, a final inspection from Health Canada will be carried out before the MMPR licence can be granted. Matica's near-term goal is to become a licensed producer of medical marijuana in Canada under the federal government's new MMPR program, and the recent engagement of Jacob Securities will help guide and finance Matica on our path to obtaining our MMPR licence."

The offering remains subject to certain conditions, including the approval of the Canadian Securities Exchange and the entering into of a definitive agency agreement between the company and the agent on or before the date of the offering. Additionally, all of the securities issued in connection with the offering will be subject to resale restrictions under applicable Canadian securities laws.

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.


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