VANCOUVER, Aug. 31, 2018 /CNW/ - Kulwant Malhi and
BullRun Capital Inc. (the "Concerned Shareholders")
announced today, that the Concerned Shareholders received an
exemption order from the Alberta Securities Commission (the
"Order") which permits the Concerned Shareholders to solicit
proxies by broadcast, speech or publication without sending an
information circular to each GrowMax Resources Corp.
("GrowMax" or the "Corporation") (GRO:TSX-V)
shareholder. The Order also permits the Concerned Shareholders to
make non-public solicitations to not more than 15 GrowMax
shareholders. The Concerned Shareholders intend to file and
mail a dissident proxy circular in the days to follow in order to
provide shareholders of GrowMax with a choice.
The Concerned Shareholders hold in aggregate 28,211,000 common
shares of GrowMax, representing more than 13% of the outstanding
shares of the Corporation.
Director Nominees
The Concerned Shareholders are also pleased to announce their
proposed board of director nominees for the Corporation's upcoming
annual and special meeting currently scheduled for September 25, 2018 - Kulwant (Kal) Malhi, Alfred
Wong, Michael Sadhra and Bala
Pratap Reddy Udumala (Pratap Reddy),
to serve as directors of the Corporation (the "Concerned
Shareholder Nominees"). The Concerned Shareholder Nominees have
complementary backgrounds and experiences needed to steer GrowMax
forward in the right direction.
- Kal Malhi: Mr. Malhi is a
Canadian entrepreneur, businessman and retired member of the Royal
Canadian Mounted Police. He is the Founder, Director and Chairman
of Bullrun Capital Inc. and has been instrumental in raising
capital for various projects totalling in excess of $150 million dollars since 2008. Mr. Malhi
specializes in working with academia and advances in technology and
funded academic research that has potential for commercialization
through private and public companies. He has extensive experience
in the biomedical, agriculture, and technology sectors.
Recently, Mr. Malhi has been the founder of highly successful
Canadian publicly traded companies including Cannabix
Technologies Inc CSE:BLO, Patriot One Technologies Inc V.PAT and
Micron Waste Technologies Inc C.MWM. Mr. Malhi, thru his
private holding company BullRun Capital Inc also holds positions in
several private early stage companies that are expected to obtain
public listings in 2019.
- Alfred Wong: Alfred is an
experienced business professional with experience in the capital
markets and technology industries. He is currently President of
Micron Waste Technologies (MWM:CSE) and VP Corporate Development at
Breathtec Biomedical Inc (BTH:CSE). From 2014-2016, Alfred was the
CEO & General Manager of a environmental waste logistics
company with operations in the Asia
Pacific. Mr. Wong is the Principal at Alfred and Company
where he consults with early stage start-up companies on
development of business plans, recruiting management, negotiating
transactions, joint ventures and supporting all company development
initiatives. Alfred is a mentor at Spring University, a start-up
school with locations in 30 countries around the globe and
currently sits on the Economic Advisory Committee for the
City of Richmond, British
Columbia.
- Michael Sadhra: Mr.
Sadhra serves as the Chief Financial Officer of Micron Waste
Technologies (MWM:CSE) and Chief Financial Officer and Director of
Breathtec Biomedical Inc. (BTH:CSE), Interim Chief Financial
Officer and Director of Khan Resources Inc. (KRI:CSE) and Director
of Cairo Resources Inc. and is currently a Tax Partner at Sadhra
& Chow LLP. Mr. Sadhra has served as the Chief Financial
Officer of several public companies including Cairo Resources Inc.
(QAIP:TSX-V), Reservoir Capital Corp. (REO:TSX-V) and Lara
Exploration Ltd. (LRA:TSX-V) and was a former Senior Tax Manager at
KPMG LLP where he specialized in Canadian and international
taxation for mining companies. Mr. Sadhra holds a Bachelor of
Commerce from the University of British
Columbia and is a Chartered Professional Accountant.
- Pratap Reddy:
Pratap Reddy is a strategic
consultant to the management and board of directors of Canadian
Zeolite Corp. He is also the Chief Executive Officer of Ichaana
Indo-Can Zeolite Private Limited, an Indian company focused on
introducing various products of natural zeolite to the Indian
agriculture and farming sectors. Mr. Reddy has been working in the
resource industry as a geologist for over 20 years and has
extensive knowledge in the global agriculture and farming sectors.
He is currently involved in various potash projects in Canada and the
United States.
The nominations and related information were provided to GrowMax
on August 21, 2018, well in advance
of the cutoff date for delivery of nominations in advance of the
Annual Meeting and Special.
GrowMax's Questionable Proposed Transaction
When GrowMax had the trading in shares of GrowMax halted for
more than a week without explanation to its shareholders, the
Concerned Shareholders had hoped management would announce a
transaction which would greatly benefit all shareholders of
GrowMax. Unfortunately, the announcement is not as "transformative"
as GrowMax alludes it to be. The targeted company Primasea
Holdings' is the owner of a money losing operation, with a
significant working capital deficiency and insufficient resources
to carry out its business plan. There are significant flaws with
the proposed transaction and shareholders will likely see the value
of their investment decrease even further. This only reinforces the
need for change. The Concerned Shareholders will provide more
details in its voting materials and shareholders are encouraged to
read the materials once it is available, prior to casting any
vote.
SOURCE BullRun Capital Inc.