MAZORRO ANNOUNCES RESULTS OF MEETING, MANAGEMENT CHANGES, AND EFFECTIVE DATE OF NAME CHANGE AND AMALGAMATION
Ottawa, Ontario - (Marketwired – December 31, 2014) - Mazorro Resources Inc. (the “Company”) (CSE:MZO) (Frankfurt:JAM) is pleased to announce that the following matters were approved by the Company’s shareholders at the special meeting of shareholders held on December 29, 2014:
(i) a change of business from mineral resource exploration to the medical marijuana industry upon completion of the Company’s previously announced acquisition of GrowPros MMP Inc. (the “GrowPros Sub”) pursuant to a three-cornered amalgamation between the Company, its wholly-owned subsidiary 9048073 Canada Inc., and the GrowPros Sub (the “Amalgamation”);
(ii) a change of name to “GrowPros Cannabis Ventures Inc.” (the “Name Change”) upon completion of the Amalgamation; and
(iii) an amended fixed share option plan (the “Plan”), which increases the maximum number of common shares reserved for issuance under the Plan to 5,807,048, representing 10% of the number of issued and outstanding common shares of the Company upon completion of the Amalgamation.
The Amalgamation was previously approved by the shareholders of GrowPros Sub at a special meeting of its shareholders held on December 22, 2014.
The Company has now completed the necessary corporate filings and has received certificates of amalgamation and amendment confirming January 1, 2015 as the effective date of the Amalgamation and the Name Change (the “Effective Date”). The Company expects to begin trading on the Canadian Securities Exchange (the “CSE”) under its new name and new trading symbol “GCI” on or about January 5, 2015, subject to the filing of all required documentation with the CSE. The new CUSIP and ISIN numbers for the Company’s common shares will be 39985Y102 and CA39985Y1025.
As of the Effective Date, the issued and outstanding capital of the Company will consist of 58,070,487 common shares, 15,463,000 common share purchase warrants, 501,300 agent compensation options, and 1,225,000 stock options.