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CAN (ON): Grower's sales license update

Matica Enterprises has provided an update on the status of the applications for licences for both Standard Processing and Sales For Medical Purposes by RoyalMax Biotechnology Canada for the Dorval facility. "Samples from the first, second, third, fourth and fifth crops have been dried (198.24 Kg dried weight) and have been submitted for independent laboratory testing," the team with the company says. "Upon receipt of the currently outstanding independent laboratory results, expected this month, RoyalMax intends to submit for both a Standard Processing Licence and a Sales For Medical Purposes licence."

Boris Ziger CEO of Matica, notes that “Initial testing has yielded THC levels from a low of 8.20 to a high of 14.18% for crop four. RoyalMax staff and consultants have been working to refine and enhance the quality of the crops for its THC content and its overall aroma and appearance to provide a superior experience for the end consumer.  Visual site inspection of the fifth crop suggests that they may have achieved their goal.”

According to the company, RoyalMax is growing hand-tended, small-batch cannabis at the Dorval facility. Sensi Star, a noted medium to high THC strain, is currently being grown at Dorval. RoyalMax has harvested a total of 198.24 kg of dried flower in the first five crops. RoyalMax is maintaining a selection of mother plants to generate its own clones. The Company is also in the process of acquiring additional strains to complement its product mix.

Matica is earning a 70% interest in RoyalMax. Matica will receive a 65% interest in RoyalMax (currently held in trust) upon the receipt of a sales licence. Matica will earn an additional 5% interest in RoyalMax (also currently held in trust) upon payment of the final $400,000, due 12 months after licencing. Matica may elect to pay the final $400,000 earlier to receive the additional 5% earlier.

For more information:
Matica Enterprises      

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