Brief: GrowMax Determines To Refocus Its Business Operations From A "Mining Issuer" To An "Investment Issuer"

Coloured Ties Capital

11/07/2019 16:39

July 11 (Reuters) - GrowMax Resources Corp  GRO.V :
    * GROWMAX MAILS CIRCULAR SEEKING SHAREHOLDER APPROVAL OF
CHANGE OF
BUSINESS AND RETURN OF CAPITAL TO SHAREHOLDERS
    * GROWMAX RESOURCES CORP - COMPANY DETERMINED TO REFOCUS ITS
BUSINESS OPERATIONS FROM A "MINING ISSUER" TO AN "INVESTMENT
ISSUER".
    * GROWMAX RESOURCES -  IN CONNECTION WITH PROPOSED COB,
INTENDS TO
ADOPT INVESTMENT POLICY TO GOVERN ITS INVESTMENT ACTIVITIES AND
INVESTMENT STRATEGY
    * GROWMAX RESOURCES - IN CONNECTION WITH PROPOSED COB, BOARD
DETERMINED THAT CO HAS EXCESS CAPITAL TO WHAT IS REQUIRED TO
EFFECT CURRENT PLANS FOR CO
    * GROWMAX RESOURCES - BOARD IS OF VIEW THAT IT WOULD BE
APPROPRIATE TO CONTINUE CO AS A BRITISH COLUMBIA CO FOR
CORPORATE AND ADMINISTRATIVE REASONS
    * GROWMAX RESOURCES - BOARD PROPOSES DISTRIBUTING EXCESS
CAPITAL
IN CASH TO SHAREHOLDERS AT $0.03 DISTRIBUTED FOR EACH SHARE
HELD, TO AGGREGATE OF $6.4 MILLION

Source text for Eikon:  ID:nGNX7mGQpd 
Further company coverage:  GRO.V 

 ((Reuters.Briefs@thomsonreuters.com;))