Sioux Falls, South Dakota, USA
July 18, 2016

GroGenesis, Inc. (OTCQB:GROG), a global sustainable agriculture company and producer of AgraBurst PRO™, a premium organic, non-GMO nano-surfactant for fertilizer manufacturers and commercial lawn & turf companies, announced today the exchange of 20 million shares of common stock for 40,000 shares of a proposed new class of preferred stock.  The Company now has a public float of 8,800,000 shares.

In consideration for the exchange between two shareholders, each shall receive 20,000 preferred shares with certain redemption and conversion rights.  In order to effect this exchange, the Company expects to authorize the preferred stock within the next 60 days.  The details of the exchange agreements with each shareholder, along with the proposed certificate of designation of the preferred stock will be filed as exhibits to an 8-K with the Securities and Exchange Commission.

Mr. Richard Kamolvathin, President and CEO of GroGenesis said, “With the previously announced cancellation of 5.5 million common shares, this very substantial reduction in our shares outstanding assists immeasurably in providing us with a capital structure that will contribute to our long term success.  We believe that the rights and privileges of this preferred stock should reflect positively on our ability to be transparent and supportive of our common shareholders, while being fair to those exchanging them.  Our success is predicated on a clean capital structure.  As I have stated before, if we succeed, they succeed.”

Mr. Kamolvathin concluded, “What I want to make abundantly clear to our shareholders is that, as we successfully execute our business plan, we will pay out a maximum of $200,000 for these preferred shares if they are redeemed.  This recapitalization is significantly different from the typical recapitalization executed by many microcap companies where preferred shares are merely converted back into common shares at a later date—a dilutive event that will not occur with our recapitalization as we meet our milestones.”

Website: http://www.grogenesis.com/

Published: July 18, 2016