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
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...