News....trading GrowMax receives final TSX-V OK for change of business
Mr. Kal Malhi reports
GROWMAX CORPORATE UPDATE
GrowMax Resources Corp. has received final approval from the TSX Venture Exchange with respect to its previously announced proposed change of business from mineral exploration to an investment issuer. The company expects that trading will resume on or around Aug. 25, 2021.
Further to the company's news release dated May 20, 2021, the company's investment in Moneyline Sportsbook Inc. has been revised. Moneyline has revised the terms of its financing from units of Moneyline to shares of Moneyline. The company intends to purchase 10 million shares of Moneyline at 25 cents per share for a total of $2.5-million. The investment in Moneyline is subject to final approval from the TSX-V.
The investment involved a non-arm's-length party, as Kulwant Malhi, an officer and director of the company, is also a director of Moneyline. The investment, however, does not fall within the definition of a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Mr. Malhi declared his interest and abstained from voting in connection with the investment.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.