GrowMax Announces Special Dividend

GROWMAX DECLARATION OF SPECIAL DIVIDEND

VANCOUVER, Aug. 16, 2019 /CNW/ - GrowMax Resources Corp.  (TSXV: GRO) ("GrowMax" or the "Company") is pleased to announce, further to its news release on August 12, 2019, that it has declared a special dividend (the "Dividend") in the amount of $0.03 per common share of GrowMax, payable in cash on September 5, 2019 (the "Payment Date").  Shareholders of record as of close of business on August 26, 2019 will be entitled to the Dividend.

The Company's common shares will be traded in accordance with the "due bill" procedures of the TSX Venture Exchange from August 23, 2019 through September 5, 2019 (the "Due Bill Basis Period"). This means any trades of GrowMax's common shares that are executed on the TSX Venture Exchange during this period will be identified to ensure purchasers of GrowMax's common shares receive the entitlement to the dividend.  GrowMax's common shares are expected to begin trading on the TSX Venture Exchange on an "ex-dividend" basis without an attached "due bill" entitlement to the Dividend on September 6, 2019, the next trading day after the Payment Date. The dividend redemption date is September 9, 2019.

Forward-looking information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GrowMax, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although GrowMax has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. GrowMax does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE GrowMax Resources Corp.

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