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GrowMax Resources Responds To BullRun Capital’s Latest Press Release

  • GrowMax states that BullRun’s latest press release is consistent with BullRun’s pattern of spreading spurious allegations and accusations to mislead GrowMax shareholders.

  • Annual and special meeting of shareholders scheduled for March 8, 2019; shareholders are reminded to vote on management’s BLUE proxy well in advance of the voting deadline on March 6, 2019 at 10:00 a.m. (Calgary time).
  • For assistance with voting contact Kingsdale Advisors at 1-866-581-1479 or contactus@kingsdaleadvisors.com.

/EIN News/ -- TORONTO, Feb. 27, 2019 (GLOBE NEWSWIRE) --

GrowMax Resources Corp. (the “Company” or “GrowMax”) (TSX-V: GRO) responds to a press release issued by BullRun Capital (“BullRun”), a self-interested activist investor.

On February 27, 2019, following a hostile letter from BullRun’s lawyers to the Company, which threatened another frivolous and costly legal action, BullRun issued a press release that included a series of demonstrably false claims and allegations regarding the wasteful legal action they initiated at the Court of Queen’s Bench of Alberta.

Particularly, in its press release, BullRun misleadingly claims that votes cast to date support the activists. In fact, there is no evidence to show that either side—be it management or BullRun—is “winning” the proxy contest; BullRun’s statement directly contradicts Honourable Madam Justice L. Bernette Ho’s decision in which she states the following:

  “[BullRun and its principal Kalwant Malhi] ask me to infer from the evidence regarding the status of the proxy tabulations as of September 22, 2018, that [BullRun was] “winning” the proxy fight at time the September 25 Meeting was adjourned and this was the Board’s reason for the postponing the meeting. However, the evidentiary record does not support such an inference.”

Justice Ho also noted that “the Board acted appropriately in postponing the September 25 Meeting in order to ensure that shareholders had accurate and fulsome disclosure” following BullRun’s September 18 press release which “contained misstatements, omissions, and misleading statements of material facts.”

Justice Ho’s full decision can be read here.

VOTE YOUR BLUE PROXY FOR A BOARD YOU CAN TRUST; TO KEEP GROWMAX ON THE RIGHT TRACK. THE DEADLINE TO VOTE IS MARCH 6, 2019.

Justice Ho has ruled that the Company’s annual and special meeting of shareholders (the “Meeting”) be held prior to March 29, 2019. GrowMax has set the Meeting date for Friday, March 8, 2019 allowing shareholders the opportunity to finally have a say on the future direction of their company after a lengthy delay—a delay caused by BullRun and their court action.

If you have already voted on management’s BLUE proxy, no action is needed.  Shareholders who have voted but wish to change their vote, may vote again; the later dated proxy will count.

Shareholders are encouraged to vote only their BLUE Proxy “FOR” the PrimaSea acquisition and “FOR” all of management’s qualified and experienced director nominees.

Shareholders should vote online at www.proxyvote.com  to ensure votes are received in a timely manner as the deadline to vote is on March 6, 2019 at 10:00 a.m. (Calgary time), being 12:00 p.m. (Toronto time).

Vote BLUE today at www.proxyvote.com  or by contacting Kingsdale Advisors toll free at 1-866-581-1479 or by email at contactus@kingsdaleadvisors.com. There is a team standing by to help.

For more information, please contact:

Stephen Keith, P. Eng.
President and CEO
Tel.: +1 (647) 299 0046
Email: info@growmaxcorp.com
www.growmaxcorp.com

Media Contact:
Ian Robertson
Executive Vice President, Communication Strategy
Kingsdale Advisors
Direct: +1 (416) 867-2333
Cell: +1 (647) 621-2646
Email: irobertson@kingsdaleadvisors.com

Forward Looking Information

Certain statements contained in this news 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, plans, projections, objectives, assumptions or future events should be viewed as forward-looking information. Such information relate to analyses and other information that are based upon forecasts of future results, estimates of 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 GrowMax to be materially different than those results, performance or achievements expressed or implied by such forward-looking information.

Forward‐looking information is based on management’s beliefs, expectations, estimates and opinions on the date statements are made and GrowMax 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.

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