Matica Acquires a Nevada Lithium Project
Toronto, Ontario--(Newsfile Corp. - October 16, 2015) - Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTC Pink: MQPXF) ("Matica" or the "Company") is pleased to announce that Matica has signed an agreement to acquire the 14 claim 280 acre Clayton Valley Lithium Project in Nevada. Matica has been reviewing potential lithium brine projects in Nevada since the Company acquired the Grumpy Lizard Graphite Project. The Company has identified both graphite and lithium as key strategic materials in the production chain of lithium-ion batteries which are used to power electric vehicles such as the Bruce 22e launch produced by Canadian Electric Boat Company recently acquired by Matica (see September 23, 2015 News Release).
The Clayton Valley Lithium Project is favourably located between Nevada Sun's Neptune project and Pure Energy's Clayton South project, which is adjacent to Matica's claims. Clayton Valley is also the site of the only lithium brine production operation in North America, the Silver Peak lithium mine, which has been in production since 1966. The Company intends to commence a work program on the project as soon as the acquisition is completed.
Boris Ziger, Matica CEO states: "This is an incredible opportunity to expand our footprint in the green materials space. It is one of Matica's goals to develop a one stop shop for green materials. We believe that the green revolution is upon us and that electric vehicles are an important part of our new present. Matica is a part of this revolution with electric boats and now both graphite and lithium projects required for batteries and we intend to establish ourselves as a progressive green company."
The acquisition terms of this arm's length transaction are $10,000 cash and the issue of six million common shares of Company for 100 per cent of the property with no royalties associated, subject to regulatory approval. The property consists of 14 unpatented placer claims covering 280 acres located in the Clayton Valley of Esmeralda County, Nevada. Matica's initial work program will include prospecting, mapping, and sampling. Matica continues to evaluate additional graphite and lithium projects for acquisition.
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
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.
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