Business
GrowMax Announces Share Consolidation and Name Change and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - November 24, 2021) - GrowMax Resources Corp. (T...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"GrowMax Announces Share Consolidation and Name Change and Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - November 24, 2021) - GrowMax Resources Corp. (TSXV: GRO) (\"GrowMax\" or the \"Company\") is pleased to announce that effective November 29, 2021, the Company's name will change from \"GrowMax Resources Corp.\" to \"Coloured Ties Capital Inc.\" (the \"Name Change\") and the trading symbol for the Company will change from \"GRO\" to \"TIE\". The new CUSIP number will be 19682H107 and the new ISIN number will be CA19682H1073. Also effective November 29, 2021, the Company will consolidate its common shares on a ten (10) for one (1) basis (the \"Share Consolidation\"). The Company currently has 232,756,414 common shares issued and outstanding. Following the Share Consolidation, the Company will have approximately 23,275,641 common shares issued and outstanding prior to rounding for fractional shares. Upon completion of the Share Consolidation and Name Change, a letter of transmittal will be sent by mail to registered shareholders advising that the Share Consolidation and Name Change have taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements evidencing their pre-consolidated common shares for new share certificates or new DRS statements representing the number of post-consolidated common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Share Consolidation and Name Change. The Share Consolidation and Name Change was approved by the board of directors of the Company and by the TSX Venture Exchange. CORPORATE UPDATEThe Company is pleased to report that since changing its business focus away from mineral exploration and into an investment issuer classification, the Company has made several successful investments that have resulted in positive returns for the Company. As of October 21, 2021, the Company had approximately $11,057,606 in Total Cash and Equivalents and $10,330,84 in total investments in public and private entities. Total liabilities as of October 21, 2021 was approximately $39,815. These numbers equal to a Net Asset Value for the Company of $21,348,665 or $0.92 per share on a consolidated share ba...