Mazorro shareholders approved at a special meeting Monday a number of changes that will allow the former mineral resource exploration company to enter the medical marijuana industry.
Mazorro purchased GrowPros MMP Inc. earlier this year, with an eye toward amalgamating the companies.
That amalgamation was approved by shareholders Dec. 22.
The amalgamation and a new name, GrowPros Cannabis Ventures Inc., come into effect Jan. 1, and the company expects to be trading on the Canadian Securities Exchange on or around Jan. 5.
Leadership changes will also come Jan. 1 with Ryan Brown taking over as president and CEO, replacing André Audet, who had been interim president, CEO, and CFO. Sabino Di Paola takes over as CFO. Mr. Audet will remain with the company as chair of the board of directors.
While GrowPros works on a second revision to its application for a medical marijuana licence, it is closing a deal for 190 acres of land north of Ottawa, for a 50,000 square foot production facility. The company says it expects ready-to-build authorization from Health Canada by the second quarter of 2015.
The local medical marijuana market already has Smith Falls-based Tweed Marijuana Inc. and the Hydropothecary, based in Gatineau.