Matica Announces the Termination of the Arrangement Agreement

August 07, 2015 8:24 AM EDT | Source: West Island Brands Inc.

Toronto, Ontario--(Newsfile Corp. - August 7, 2015) - Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTC Pink: MQPXF) ("Matica" or the "Company") announces that the Board of Directors has decided to terminate the Arrangement Agreement dated January 26, 2015 among Matica Enterprises Inc., Ravenline Exploration Ltd., 1022607 B.C. Ltd., 1022608 B.C. Ltd., and 1024250 Ltd. (collectively Matica and its subsidiaries).

The Arrangement Agreement provides that the agreement may, at any time before or after the holding of the Meeting but no later than the Effective Date, be terminated by the Board of Directors without further notice to, or action on the part of, the shareholders. The Board of Directors has determined, in its sole judgment, that it would be inadvisable in current circumstances for Matica to proceed with the arrangement. Upon the termination of the Arrangement Agreement, no party has any liability or further obligation to any other party of the agreement. In accordance with the authority granted to it, the Board of Directors has determined that it is not in the best interests of the Company to proceed with the Arrangement Agreement. The Subsidiaries will therefore remain wholly-owned subsidiaries of Matica and the Board of Directors will continue to assess the most effective corporate structure for Matica and the Subsidiaries on an ongoing basis.

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
Boris Ziger, CEO & Chairman

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:
Telephone: 416-304-9935
E-mail: info@maticaenterprises.com
Website: www.maticaenterprises.com

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 will 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. Factors that could cause the actual results to differ materially from those in forward-looking statement. 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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