Welcome!

News Feed Item

Kobex Proposes Change of Business to an Investment Issuer and Sale of Mineral Exploration Properties

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/13/14 -- Kobex Minerals Inc. (the "Company" or "Kobex") (TSX VENTURE:KXM)(OTCQB:KBXMF) is pleased to announce that it is proposing a change of business from a Mining Issuer to an Investment Issuer (the "Proposed COB").

Summary of the Proposed COB

In light of the current state of the mineral exploration and mining sector and given the expertise and skill sets of the Board, the Management and Board believe that the optimal allocation of the Company's working capital would be within the framework of an investment company, or resources focused merchant bank, rather than as a mineral exploration or mining corporation where its working capital would be spent on a limited number of mineral projects. For those reasons, the Management and Board have proposed that the Company undergo the Proposed COB. The Proposed COB is an "arm's length transaction" for the purposes of the TSX Venture Exchange ("TSX-V") and remains subject to TSX-V approval.

Proposed Investment Policy

As required by the TSX-V's listing requirements for an Investment Issuer, the Company will adopt an investment policy to govern its investment activities. The investment policy will provide, among other things, the investment objectives and strategy based on the fundamental principles set out below. The final investment policy will be posted on the Company's website (www.kobexminerals.com) and filed on SEDAR (www.sedar.com) prior to the completion of the Proposed COB.

Investment Objectives

The Company's investment objectives are to seek:

a.  a high return on investment opportunities, primarily in the natural
    resources sector; and 
    
b.  to preserve capital and limit downside risk while achieving a reasonable
    rate of return by focusing on opportunities with attractive risk to
    reward profiles. 

The Company does not anticipate the declaration of dividends to shareholders during its initial stages and plans to reinvest the profits of its investments to further the growth and development of the Company's investment portfolio.

Investment Strategy

In light of the numerous investment opportunities across the entire natural resources sector, the Company aims to adopt a flexible approach to investment targets without placing unnecessary limits on potential returns on its investment. This approach is demonstrated in the Company's proposed investment strategy set out below.

Investment Sector:    Natural resources industry. All commodities that can  
                      be classified as natural resources may be considered  
                      for investment purposes, including, but not limited   
                      to, minerals, metals, petroleum, forestry and         
                      industries that derive their value from natural       
                      resources, such as run-of-river power generation and  
                      wind power generation, and technologies that are used 
                      in the natural resources sector such as drilling and  
                      surveillance.                                         
                                                                            
Investment Types:     Equity, debt, royalties, income and commodity streams,
                      derivatives and any other investment structures or    
                      instruments that could be acquired or created.        
                                                                            
Commodities:          All commodities that comprise natural resources. Such 
                      commodities may include, but are not limited to,      
                      precious metals, base metals, ferrous metals, non-    
                      ferrous metals, industrial metals, non-industrial     
                      metals, agricultural minerals, industrial minerals,   
                      other minerals, oil, gas, water and forestry products.
                                                                            
Jurisdictions:        Preference will be given to first world countries but 
                      all countries are permissible depending on the risk   
                      assessment of the Board and Management at the time the
                      investment is made and the risk-reward relationship   
                      associated with each investment in a particular       
                      jurisdiction.                                         
                                                                            
Investment Size:      Unlimited, which may result in the Company holding a  
                      control position in a target corporation or possibly  
                      requiring future equity or debt financings to raise   
                      money for specific investments.                       
                                                                            
Investment Timeline:  Not limited.                                          
                                                                            
Investment Targets:   Direct project investments either through direct      
                      equity in a project, or through a derivative interest 
                      such as a royalty, stream or other derivative         
                      facility.                                             
                                                                            
                      Investments in public or private corporations,        
                      partnership or other legal entities that own, or      
                      propose to own, natural resource assets or derivatives
                      of natural resource assets.                           
                                                                            
                      Distressed situations where a change of management or 
                      other re-structuring is required to realize the value 
                      of the asset.                                         
                                                                            
                      Activist investing where shareholder value is being   
                      adversely affected by a corporation's current board   
                      and management.                                       
                                                                            
Investment Review:    Will seek to maintain the ability to actively review  
                      and revisit all of investments on an ongoing basis.   
                                                                            
Liquidity:            Will evaluate the liquidity of investments and seek to
                      realize value from same in a prudent and orderly      
                      fashion.                                              

Composition of Investment Portfolio

The nature and timing of the Company's investments will depend, in part, on available capital at any particular time and the investment opportunities identified and available to the Company.

Subject to the availability of capital, the Company intends to create a diversified portfolio of investments. The composition of its investment portfolio will vary over time depending on its assessment of a number of factors including the performance of financial markets and credit risk.

Investment

Kobex has completed a $5 million private placement purchase of 1,000,000 shares of Mountain Province Diamonds Inc. This investment was not, and future investments by Kobex will not be, subject to TSX-V approval unless it is a non-arm's length transaction, involves the issuance of securities by Kobex or more than 50% of its working capital or management time. Kobex has approximately $28 million in working capital available for future investments.

Shareholder Approval

The Proposed COB requires the approval of the shareholders of the Company. The Company has scheduled a meeting of its shareholders on July 21, 2014 (the "Meeting") to obtain this approval. A majority of shareholders present at the Meeting must approve the Proposed COB for it to proceed.

Further information regarding the Meeting and the Proposed COB will be contained in the management information circular (the "Circular") to be prepared and mailed to the Company's shareholders in respect of the Meeting. A copy of the Circular will also be posted on the Company's website and filed on SEDAR.

Name Change

In connection with the Proposed COB, the Company anticipates changing its name to "Kobex Capital Corp." or such other name as the Board may determine is appropriate. Approval of any change of name of the Company is subject to approval of the Company's shareholders at the Meeting.

Sale of Mineral Exploration Properties

The Board of Directors of the Company has approved the sale, subject to the execution of a definitive agreement, of the Company's two mineral exploration properties (Mel property and Barb property in the Yukon Territory) for $200,000 cash, 1% net smelter return ("NSR") royalty and the right of the purchaser to repurchase the NSR royalty for $1 million. It is anticipated that the sale will be completed prior to the end of June, 2014.

Other Information

Completion of the Proposed COB is subject to a number of conditions, including TSX-V acceptance and shareholder approval. The transaction cannot close until the required shareholder approval is obtained.

There can be no assurance that the Proposed COB will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Circular to be prepared in connection with the Proposed COB any information released or received with respect to the Proposed COB may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed COB and has neither approved nor disapproved the contents of this press release.

On behalf of

KOBEX MINERALS INC.

Philip du Toit, President & CEO

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

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the Proposed COB. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

Contacts:
Kobex Minerals Inc.
Phil du Toit
President and CEO
647-818-2920

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.