OTTAWA, ONTARIO--(Marketwired - Jan. 5, 2015) - As a result of a business combination transaction completed on January 1, 2015 (the "Effective Date"), by way of a three-cornered amalgamation (the "Amalgamation") between Mazorro Resources Inc. (now GrowPros Cannabis Ventures Inc.) (the "Company"), its wholly owned subsidiary 9048073 Canada Inc., and GrowPros MMP Inc. ("GrowPros Sub"), Mr. Ryan Brown (the "Offeror") acquired direct ownership of an aggregate of 8,000,000 common shares in the capital of the Company (the "Common Shares").
Prior to the Effective Date, the Offeror beneficially owned 8,000,000 common shares in the capital of GrowPros Sub (the "GrowPros Sub Shares"), which were acquired upon the exercise of incentive stock options issued to the Offeror in his capacity as the President and sole director of GrowPros Sub.
Pursuant to the Amalgamation, the GrowPros Sub Shares were exchanged for Common Shares on a one for one basis. As of the Effective Date, there were 58,070,487 Common Shares issued and outstanding.
The Offeror now directly owns and exercises control over an aggregate of 8,000,000 Common Shares, representing approximately 13.78% of the issued and outstanding Common Shares on a partially diluted basis. The Common Shares were acquired pursuant to the Amalgamation and are held for investment purposes. Offeror may from time to time increase or decrease his holdings of the Company's securities, depending on market and other conditions.
As of the Effective Date, the Offeror was appointed as President, CEO and a director of the Company.
An early warning report of the Offeror (the "Early Warning Report") containing additional information with respect to the foregoing matters will be filed under the Company's SEDAR profile at www.sedar.com.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
Further information or a copy of the Early Warning Report may be obtained by contacting:
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