GrowMax Resources Corp. announced consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net loss from continuing operations of CAD 1,801,000 compared to net income from continuing operations of CAD 1,645,000 reported in the same period last year. Net loss was CAD 2,015,000 against CAD 19,902,000 reported last year. Capital expenditures, net were CAD 2,193,000 against CAD 1,699,000 reported last year.

For the nine months, the company reported net loss from continuing operations of CAD 10,941,000 compared to net income from continuing operations of CAD 406,000 reported in the same period last year. Net loss was CAD 12,615,000 against CAD 30,257,000 reported last year. Capital expenditures, net were CAD 8,734,000 against CAD 9,620,000 reported last year.

The company's 2017 capital work program and budget is set at approximately USD 10 million. In addition, the Company has budgeted to spend approximately USD 3.4 million on general and administrative costs for 2017.