|By Marketwired .||
|June 13, 2014 03:21 PM EDT||
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.
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.
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.
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.
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.
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.
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.
Kobex Minerals Inc.
Phil du Toit
President and CEO
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Feb. 13, 2016 12:00 PM EST
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 13, 2016 12:00 PM EST Reads: 468
SYS-CON Events announced today that Column Technologies will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principal...
Feb. 13, 2016 12:00 PM EST
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 13, 2016 12:00 PM EST Reads: 440
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
Feb. 13, 2016 11:45 AM EST Reads: 310
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 13, 2016 11:45 AM EST Reads: 269
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee...
Feb. 13, 2016 11:45 AM EST
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Feb. 13, 2016 11:30 AM EST Reads: 279
WebSocket is effectively a persistent and fat pipe that is compatible with a standard web infrastructure; a "TCP for the Web." If you think of WebSocket in this light, there are other more hugely interesting applications of WebSocket than just simply sending data to a browser. In his session at 18th Cloud Expo, Frank Greco, Director of Technology for Kaazing Corporation, will compare other modern web connectivity methods such as HTTP/2, HTTP Streaming, Server-Sent Events and new W3C event APIs ...
Feb. 13, 2016 11:30 AM EST
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Feb. 13, 2016 11:30 AM EST Reads: 442
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 13, 2016 11:30 AM EST Reads: 153
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
Feb. 13, 2016 11:00 AM EST
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Feb. 13, 2016 11:00 AM EST
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Feb. 13, 2016 11:00 AM EST Reads: 145
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
Feb. 13, 2016 10:30 AM EST