CALGARY, ALBERTA--(Marketwired - Dec. 19, 2016) - GrowMax Resources Corp. (TSX VENTURE:GRO) ("GrowMax" or the "Company") is pleased to announce the following management appointments to its senior executive team:
Mr. Stephen Keith is appointed President of the Company effective January 9, 2017. Mr. Keith is a registered professional engineer and an accomplished senior executive with 20 years in the natural resources sector, with a specific focus on mining and finance. Mr. Keith has worked as a geological engineer, an investment banker and an executive for several public and private companies. Most recently, he held the position of Managing Director of Fertoz Ltd., a company focused on organic phosphate production in Canada and fertilizer distribution in Australia. Prior thereto, he was the President and Chief Executive Officer of Rio Verde Minerals, a company focused on developing a fertilizer company with potash and phosphate assets in Brazil. Mr. Keith also previously served as Vice President Investment Banking at Thomas Weisel Partners, working on natural resources transactions in the mining and energy sectors. He has a Bachelor of Science in Applied Science with a major in Geological Engineering from Queens University in Canada, and a Master of Business Administration in International Business, with Latin America focus, from Schulich School of Business at York University in Canada. Mr. Keith is fluent in Spanish.
Mr. Keith will be working closely with the Executive Chairman and board of directors to implement the overall company strategy and achieve its performance targets. He will be responsible for all the Company's operations at Bayovar in Peru, progressing the phosphate, brine and fertilizers projects and advancing the various studies and plans for these projects.
Mr. Jamie Somerville, who has been providing consulting services to the Company since January 2016, was recently appointed Executive Vice President in October 2016. Mr. Somerville is a former financial analyst with over 15 years of experience. He spent several years working as an institutional equities analyst covering mainly Canadian-listed oil and gas companies with international operations. For a majority of that time, Mr. Somerville was Vice President and Director at TD Securities, prior to which he worked at Genuity Capital Markets (now CanaccordGenuity) and MGI Securities. Mr. Somerville spent over 5 years working for Wood Mackenzie, a firm of global energy consultants, based in the UK. Mr. Somerville is a graduate of the University of Strathclyde in Glasgow with a Master of Engineering (distinction) in Mechanical Engineering with Financial Management.
Mr. Somerville will be the lead for the Company's brine project, fertilizer market studies, economic analysis and other business development activities, including investor relations.
Abby Badwi, Executive Chairman of GrowMax, commented, "The board of directors and I would like to welcome both Stephen and Jamie to GrowMax. These appointments will solidify the Company's executive team, bringing strong leadership with the necessary technical and business skills to position GrowMax for continued sustainable growth through the development of its mining assets and fertilizer business initiatives. With Stephen Keith's experience in the phosphate and potash business and his track record in financing activities for many mining projects, 2017 should yield some positive results for the Company and its shareholders as we move towards several project development and potential cash flow opportunities at Bayovar in Peru."
The Company's redesigned and enhanced website will be available today at www.growmaxcorp.com.
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 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.
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.