GrowMax to Consider Investments in Legal Cannabis and Hemp Sectors
May 07 2019 - 9:22AM
GrowMax Resources Corp. (“GrowMax” or the “Company”) (TSXV: V.GRO)
announces it is currently considering investments in the legal
cannabis, hemp, and related sectors with a focus on advance stage
licensed producers in North America.
“We intend to leverage the Company’s strong cash position of
approximately C$30 million to make investments primarily in the
legal cannabis and hemp sectors,” says Kal Malhi, Chairman and
Chief Executive Officer. “The Company now has a strong management
team and its two largest shareholders include Bullrun Capital Inc.
and Kisan International, a division of Indian Farmers Fertiliser
Cooperative Limited, together owning 27.60% of outstanding
shares.”
The Company has appointed Michael Malana to replace Lloyd
Wiggins as Chief Financial Officer effective May 1st 2019. Mr.
Malana was previously appointed as Corporate Secretary in a news
release dated. April 1st 2019. Kal Malhi stated, “We thank Lloyd
for his contributions in getting the new board of directors up to
speed on the financial status of the company. We wish him every
success in his future endeavors.”
The Company continues to pursue disposition of its Peru-based
phosphate and potash assets and will provide further guidance on
its proposed dividend after reviewing outstanding liabilities and
ongoing investment opportunities.
About GrowMax Resources
Corp.GrowMax Resources Corp is a publicly-listed Canadian
phosphate and potash mining company currently undergoing
restructuring. The Company’s two largest shareholders include
Bullrun Capital Inc. and Kisan international, a division of Indian
Farmers Fertiliser Cooperative Limited.
On behalf of the Board,
Kal Malhi ChairmanGrowmax Resources Corp
kal@bullruncapital.ca
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