CALGARY, ALBERTA -- (Marketwired) -- 08/04/16 -- Americas Petrogas Inc. (TSX VENTURE: BOE) (the "Company") is pleased to announce that it has filed articles of amendment to give effect to a change of the Company's name to "GrowMax Resources Corp." (the "Name Change"). The Company's common shares ("Common Shares") will trade on the TSX Venture Exchange ("TSX-V") under the new trading symbol: GRO. All materials necessary to effect the Name Change are expected to be filed with the TSX-V today and, subject to TSX-V approval, it is expected that the Common Shares will commence trading on the TSX-V under the new name and "GRO" trading symbol on or about August 9, 2016.
The Company's executive chairman, Abby Badwi, commented, "The changes announced today reflect the Company's new strategic direction as a Peru-based phosphate and potash mining company from an Argentina-based oil and gas producer. The importance of GrowMax's mining assets and resources at Bayovar in Peru will be GrowMax's main focus over the next phase of its development. During the past several months, we have taken steps to significantly reduce our personnel numbers and G&A in Argentina and will be continuing with our efforts to sell or voluntarily relinquish the Company's remaining oil and gas assets in Argentina."
Common Shares owned by Shareholders will automatically be adjusted as a result of the Name Change and no further action is required to be taken by such Shareholders.
About GrowMax Resources Corp. (formerly Americas Petrogas Inc.)
GrowMax Resources Corp. (formerly Americas Petrogas Inc.) is an international Canadian mining company whose shares trade on the TSX-V under the symbol GRO (formerly BOE). GrowMax Resources Corp. owns approximately 91.6% and Indian Farmers Fertiliser Co-operative Limited (IFFCO) and its affiliates own approximately 8.4% of GrowMax Agri Corp, a private company involved in the exploration for near-surface phosphates, potash brine and other minerals, and potential development of fertilizer projects in the Bayovar region of Peru.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact should be viewed as "forward-looking statements". These statements relate to analyses and other information that are based upon forecasts of future results, estimates or amounts not yet determinable and assumptions of management. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. In particular, there is no assurance regarding the completion or timing of the disposition of the Company's remaining Argentina assets.
There can be no assurance that such forward-looking statements, including trading on the TSX-V under a new name and symbol, will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.