Matica Files Amended Statements for Periods Ended June 30 2015

Toronto, Ontario--(Newsfile Corp. - October 16, 2015) - Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTC Pink: MQPXF) ("Matica" or the "Company") Boris Ziger, CEO of Matica announces that as a result of review by staff of the Ontario Securities Commission, we are issuing the following news release to clarify our disclosure. Matica has SEDAR filed amended unaudited financial statements for the three month and six month periods ended June 30, 2015 with a corresponding amended Management Discussion and Analysis. The original SEDAR filings were made on August 31, 2015.

The following table and notes are a summary of the changes made in the amended unaudited financial statements and also reflected in the amended Management Discussion and Analysis:

Item Originally
Amended Change See
Cash 35,656 63,156 27,500 (a)
GST/HST recoverable
Other Receivables
Due from related parties 25,100 27,100 2,000 (d)
Prepaids 221,177 2199,177 (2,000) (d)
Investment in Associate 377,597 0 (377,597) (c),(e),(g)
Accounts payable and accrued liabilities 287,805 2699,313 (18,492) (e)
Consulting 252,848 30,598 (222,250) (f),(g)
Management and directors fees 89,326 78,000 (11,326) (h)
Marketing and promotion 650,418 781,418 131,000 (f)
Meals and entertainment 0 3,728 3,728 (i))
Office and Misc. 18,384 14,656 (3,728) (i))
Share based compensation 101,389 1122,715 11,326 (h)
Impairment 0 6877,677 687,677 (j))
Net Loss 1,422,805 2,019,232 686,427 (j),(k)



Increase Cash and reduce Other receivables for a wire transfer in transit at June 30 which offset within Current Assets


Show GST/HST recoverable as separate line item from Other receivables to enable more detailed MDA analysis


Reclassify the advances to THCD in 2015 from Other receivables to Investment in associate consistent with the treatment in 2014 as audited and to conform to the accounting guidelines for the treatment of investment in associates


Reclassify an advance to a director from Prepaids to Due from related parties which offset within Current Assets


Reduce the accruals for finders’ fee agreements due to there being no further payments expected to THCD


Reclassify expenses from Consulting to Marketing and promotion to allow proper comparative MDA analysis


Reclassify expenses from Consulting to Investment in associate to conform to the accounting guidelines for the treatment of investment in associates


Reclassify the value of an option grant from Directors fees to Stock based compensation to provide the correct related party stock based compensation in Note 7


Reclassify expenses from Office and misc. to Meals and Entertainment to enable correct MDA analysis


Record an impairment for Investment in associate due to an October 31, 2015 surrender or cancellation clause


Sum of the adjustment to expenses and to loss


Many of the changes involve the reclassification of items from one asset account to another or one expense account to another with little or no significant net effect. The re-filing review included identifying items that may have been expensed as Consulting that more appropriately belonged either as Marketing and Promotion expenses or as an allocation to Investment in affiliate. The most significant change is the addition of an impairment of $687,677 against the investment in affiliate to reflect that Matica is subject to a surrender or cancellation clause should THC Dispensaries Canada Inc. fail to become a licensed producer under the Medical Marijuana Production Regulations by October 31, 2015.

Boris Ziger, Matica CEO states: "These amended filings more clearly identify the financial risks that Matica are exposed to if THC Dispensaries Canada Inc. fails to receive a license by October 31, however, in no way do they change the intention of the Company to pursue any available legal recourse against THC Dispensaries Canada Inc., its principals, its directors, its legal representatives, and any other parties deemed associated in the failure of THCD to complete their obligations to Matica."

It became apparent in this review that the CFO and accounting functions located in Vancouver are not able to adequately report and reflect the activities of the CEO and operating decision functions located in Toronto. Mr. Richard Tong has agreed to tender his resignation effective immediately so that the Company may search for a Toronto based CFO. We thank Mr. Tong for his service to the Company.

Mr. Brown, the Audit Chairman of Matica, has agreed to assume the duties of the CFO on an interim basis until a Toronto based replacement has been added.

For more information on Matica Enterprises please visit the website at:

On behalf of the Board of Directors

Boris Ziger
Boris Ziger, CEO & Chairman

The Company's public filings are available for review at and

For further information, please contact Boris Ziger, Chief Executive Officer, at:
Telephone: 416-304-9935

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

This news release contains statements about the Company's information and the business of Matica that will be made available on the S&P Capital IQ Corporation Records Listing Program, 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.  There exist several Risk Factors as identified in the Company filed quarterly unaudited and annual audited financial that could cause the actual results to differ materially from those in forward-looking statements.  Any 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.