CALGARY, ALBERTA–(Marketwired – June 29, 2017) – GrowMax Resources Corp. (the “Company” or “GrowMax“) (TSX VENTURE:GRO) is pleased to announce that, at its annual and special meeting of shareholders held on June 28, 2017 (the “Meeting“), shareholders of the Company approved all matters put before them. At the Meeting, the number of directors of GrowMax was set at seven (90.7% FOR) and included the re-election of Messrs. Abdel Badwi (84.4% FOR), Ron Ho (90.9% FOR), Rakesh Kapur (99.7% FOR), Carlos Lau (99.1% FOR) and Ross C. McCutcheon (90.2% FOR), and the appointments of Messrs. Steven Paxton (99.8% FOR) and John Van Brunt (99.7% FOR) as directors of the Company.
Shareholders also re-approved the Company’s stock option plan in accordance with the requirements of the TSXV Venture Exchange and the appointment of Pricewaterhouse Coopers LLP, Chartered Accountants, as auditors of the Company.
The Company also announces that the board of directors has granted 200,000 options to each of Mr. Van Brunt and Mr. Paxton in conjunction with their appointments as Board members. Each stock option represents the right to purchase one common share of the Company at an exercise price of $0.20 per common share. The stock options vest over a two-year period and expire on June 29, 2022.
Abdel Badwi, Executive Chairman, comments: “On behalf of GrowMax’s Management and Board of Directors, I thank all of our shareholders for their approval and continued support as we diligently work to advance our projects. I also thank Mr. Ken Geren for his significant expertise and past contributions to GrowMax. Lastly, I am pleased to welcome Mr. Steven Paxton and Mr. John Van Brunt as Board members to the Company. Both Steven and John have extensive knowledge and experience in the fertilizer industry and will be valuable assets to the Company moving forward.”
About GrowMax Resources Corp.
GrowMax Resources Corp. is a publicly listed Canadian company (Ticker GRO on TSX-V) focused on exploration and development of phosphate and potassium-rich brine resources on its Bayovar Property, which is located in the Sechura Desert in northwestern Peru. The Company’s vision is to become a leading producer of phosphate and potash fertilizer products in Peru.
GrowMax Resources owns approximately 92% of GrowMax Agri Corp., a private company that owns 100% of the Bayovar Property, which currently covers approximately 227,000 gross acres. The Indian Farmers Fertiliser Co-operative Limited (IFFCO) and its affiliates own approximately 8% of GrowMax Agri Corp.
Forward-Looking Information
Certain statements contained in this press release may constitute “forward-looking information” as such term is used in applicable Canadian and US securities laws. Any information or statements contained herein that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact should be viewed as forward-looking information. Such information relate to analyses and other information that are based upon forecasts of future results, estimates or amounts not yet determinable and assumptions of management. Such forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different than those results, performance or achievements expressed or implied by such forward-looking information.
There is no assurance that such forward-looking information, including the approval of the Stock Option plan from the TSX-V, will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements contained in this press release. This cautionary statement expressly qualifies the forward-looking statements contained herein.
Forward‐looking information is based on management’s beliefs, expectations, estimates and opinions on the date statements are made and the Company undertakes no obligation to update forward-looking information and whether the beliefs, expectations, estimates and opinions upon which such forward-looking information is based has changed, except as required by applicable law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Stephen Keith
President
(647) 299-0046
www.growmaxcorp.com
Renmark Financial Communications Inc.
Steve Hosein
(416) 644-2020 or (514) 939-3989
shosein@renmarkfinancial.com
www.renmarkfinancial.com