Vancouver, BC, June 18, 2014 - Mazorro Resources (CSE:MZO) is one of the latest new listings on the Canadian Securities Exchange, and is trading under the symbol "MZO".
Concurrent with its new CSE listing, the company has voluntarily de-listed from the TSX Venture Exchange and will be seeking shareholder approval to consolidate its shares on the basis of one new share for every two shares issued and outstanding.
InvestmentPitch.com has produced a "video news alert (http://www.investmentpitch.com/video/0_gylh4tdz/Mazorro-Resources-CSE-MZO-New-Listing)" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com (http://www.InvestmentPitch.com) and enter "Mazorro" in the search box.
The Board of Directors believes the new CSE listing will provide for greater operational efficiency and lower costs for the company, while giving shareholders continued liquidity on a recognized exchange.
André Audet, Interim President & CEO stated, "Management of the company is looking at several opportunities to create shareholder value. The proposed share consolidation will provide the company with greater flexibility in structuring a transaction for any potential new projects."
Mazorro has already signed a non-binding letter of intent to acquire GrowPros MMP, a medical marijuana consultation and acquisition firm that is pursuing a license as a producer of medical marijuana in Canada under the Marijuana for Medical Purposes Regulations. GrowPros core group consists of expert medical cannabis growers and business professionals who have been actively involved in the medical cannabis and hydroponic industry for more than 15 years. The group also comes with substantial intellectual property derived from the groups' many years of research and development, as well as global affiliations in the industry.
Upon closing of the transaction with GrowPros, Mazorra would issue 23,000,100 post-consolidated shares and may allot and reserve up to 5 million additional post-consolidated shares if GrowPros is successful in securing its producer license, on or before December 31, 2014.
Mazorra is also pursuing negotiations with other previously identified strategic joint ventures in the medical marijuana industry.
Mazorro has a history as a mineral exploration company and will continue to move forward with its Monster Lake area property near Chibougamau in Northwestern Quebec. For more information about the Monster Lake property, please refer to the NI 43-101 Technical Report which was filed on Sedar.com in April.
Upon completion of the share consolidation, the company plans to arrange a private placement with accredited investors. The company anticipates raising between $1 and $2 million by issuing $0.10 units, with each unit including a full warrant with a $0.15 exercise price.
The shares are trading at $0.06, and with 55.5 million pre-consolidated shares currently outstanding, the company is capitalized at $3.3 million.
For more information, please visit the company's website www.mazorro.com (http://www.mazorro.com) or contact André Audet, Interim President & CEO, at 613-241-2332.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports. Please visit InvestmentPitch.com and browse the extensive library of investment videos.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com (mailto:bmorgan@investmentpitch.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: InvestmentPitch via Globenewswire
