GrowMax Resources Corp.
TSX VENTURE : GRO

GrowMax Resources Corp.

November 29, 2016 08:30 ET

Growmax Announces Board Change and Stock Option Grant

CALGARY, ALBERTA--(Marketwired - Nov. 29, 2016) - GrowMax Resources Corp. (TSX VENTURE:GRO) ("GrowMax" or the "Company") announces Dr. Easton Wren has retired as a director of the Company effective November 28, 2016. Mr. Abby Badwi, Chairman of the Company commented, "On behalf of the Board of Directors of GrowMax, I wish to thank Easton for his many years of dedicated service and contributions to the Company and wish him well in his future endeavors."

The Company also announces that the Board of Directors has granted an aggregate of 1,600,000 options, of which 1,450,000 stock options were granted to directors and officers and 150,000 to other employees of the Company and its subsidiary. Each stock option represents the right to purchase one common share of the Company at an exercise price of $0.20 per common share. The stock options vest over a two-year period and expire on November 28, 2021.

About GrowMax Resources Corp.

GrowMax Resources Corp. is a publicly listed Canadian company (Ticker GRO on TSX-V) focused on exploration and development of phosphate and potassium-rich brine resources on its Bayovar Property, which is located in the Sechura Desert in northwestern Peru. The Company's vision is to become a leading producer of phosphate and potash fertilizer products in Peru.

GrowMax Resources Corp. owns approximately 92% of GrowMax Agri Corp., a private company that owns 100% of the Bayovar Property, which currently covers approximately 227,000 gross acres. The Indian Farmers Fertiliser Co-operative Limited (IFFCO) and its affiliates own approximately 8% of GrowMax Agri Corp.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements should these beliefs, estimates and opinions or other circumstances change, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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