GrowMax Resources Corp. filed its management information circular in preparation for its annual and special meeting of Shareholders.
At the Meeting, shareholders will be asked to consider and approve a number of items of business including the previously announced (August 28, 2018) proposed acquisition of PrimaSea Holdings Ltd., which, through its wholly-owned subsidiary (Fertimar Mineracao e Navegacao Ltda.), is an established producer of lithothamnion-based animal feed and plant fertilizer products in Brazil.
Pursuant to the transaction, the company will acquire all the issued and outstanding shares of PrimaSea in exchange for 50% of the common shares of GrowMax Resources, representing an approximate 30% premium over GrowMax’s 60-day volume weighted average price. This proposed acquisition has been unanimously approved by GrowMax’s Board of Directors and already has the support of the holders of over 32% of GrowMax shares.