Mazorro Receives Conditional Approval of Change of Business and Name Change
December 3, 2014 (Source: Marketwired) — Mazorro Resources Inc. (the “Company“) (CSE:MZO)(FRANKFURT:JAM) announces that it has received the conditional approval of the Canadian Securities Exchange (the “CSE“) for its proposed change of business from mineral resource exploration to the medical marijuana industry (the “Change of Business“) and its change of name to “GrowPros Cannabis Inc. / Entreprise GrowPros cannabis inc.” (the “Name Change“) upon receipt of necessary shareholder approval in respect thereof and completion of the three-cornered amalgamation with GrowPros MMP Inc., previously announced on November 6, 2014 (the “Amalgamation“).
The Company has filed an updated Form 2A listing statement under its profile on the CSE website and on SEDAR at www.sedar.com that provides additional disclosure of the terms of the Amalgamation, the Company’s proposed new business, and the related risk factors.
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The Company expects that the CSE will publish a bulletin shortly to announce the resumption of trading of the Company’s common shares (the “Common Shares“) on the CSE at the opening of trading on December 4, 2014. The trading symbol “MZO” will remain the same until completion of the Amalgamation and the Name Change, following which the Common Shares will trade on the CSE under the symbol “GCI”.
Completion of the Amalgamation, the Change of Business, and the Name Change, remain subject to a number of conditions, including, but not limited to, receipt of necessary shareholder approvals in respect thereof and satisfaction of standard closing conditions for transactions of this nature.
The special meeting of the Company’s shareholders that was called to seek the requisite approval for the Change of Business and the Name Change, among other items, has been postponed and will now be held on December 29, 2014 (the “Special Meeting“). A notice of meeting, management information circular, and form of proxy in respect of the Special Meeting will be sent to shareholders and is available under the Company’s profile on the CSE website and on SEDAR.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to complete the Amalgamation and Change of Business, failure to obtain sufficient financing, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement.
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