Organimax Announces Board of Directors Changes, New CEO, Roll-Back
ORGANIMAX NUTIRENT CORP 1400 – 1040 WEST GEORGIA STREET VANCOUVER, BC V6E 4H1
ORGANIMAX ANNOUNCES BOARD OF DIRECTORS CHANGES, NEW CEO, ROLL-BACK
April 15, 2019
Vancouver, British Columbia: Organimax Nutrient Corp. (TSX-V: KMAX) (“OrganiMax” or “the Company”) is pleased to announce that Brandon Rook has agreed to become the Company’s Chief Executive Officer and Director. Tim Mosey, interim CEO since August 2018, has stepped down but will remain on the Board of Directors. The Company wishes to thank Mr. Mosey for his leadership of the Company over the past 8 months, and looks forward to continuing to work with him. Bill Harper has also resigned as a Director. The Company thanks Mr. Harper for his many years of service to the Board and wishes him well in retirement.
Mr. Rook has over 25 years of diversified business experience working as a geologist, advisor to numerous publicly listed companies as well as being a CEO, President, and Director of several past TSX-V companies. Currently he is a director of two public companies.
The Company also announces that, subject to regulatory approval, it will be consolidating its capital on a 3:1 basis (the “Consolidation”).
The Board of Directors of the Company believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the Consolidation.
The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms thereof. No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded down or up to the nearest whole number.
About OrganiMax Nutrient Corp. (KMAX.V)
OrganiMax Nutrient Corp is an exploration company focused on advancing its 100%-owned potassium and lithium bearing salar complex of mineral concessions that comprise more than 424,000 hectares of the Central Mexican Plateau located in the states of Zacatecas, San Luis Potosi and Coahuila, Mexico. The Company has previously identified high-grade potassium in both the salar sediments and near-surface brines, and is progressing towards its maiden sediment mineral resource estimate (MRE). In addition, recent regional geophysical work has indicated that the depths of the salar basins are much greater than previously thought, making the salars highly prospective for large brine aquifers to be discovered at depth. In parallel to the MRE, OrganiMax is planning to conduct a detailed geophysical program to define the extent of the salar basins applying the results to a deep drilling program to test for brines at depth. The Company is targeting Sulfate of Potash (SOP) as its primary product along with associated by-products Lithium Carbonate (LCE) and boron for both the domestic and international markets. SOP is a premium specialty fertilizer that is used in the production of high-value chloride sensitive crops such as fruits, vegetables, and nuts.
On behalf of the Board of Directors of OrganiMax Nutrient Corp.,
"Brandon Rook"
Brandon Rook, Chief Executive Officer.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RE- SPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
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