|By Marketwired .||
|August 1, 2014 05:00 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/01/14 -- Kobex Minerals Inc. (the "Company" or "Kobex") (TSX VENTURE: KXM)(OTCQB: KBXMF) is pleased to announce that it has received conditional approval from the TSX Venture Exchange ("TSXV") for its proposed change of business ("Change of Business") to a Tier 1 investment issuer. Kobex intends to change its name to "Kobex Capital Corp." when its Change of Business is completed. The Company received shareholder approval for these changes at its annual and special general meeting (the "Meeting") held July 21, 2014. For more information regarding the Change of Business please refer to Kobex's news release of June 13, 2014 as well as the management information circular (the "Circular") prepared in respect of the Meeting, both of which are available at www.sedar.com.
At the Meeting, 95.12% of the shares voted were in favour of the Change of Business. Shareholders also re-elected Paul van Eeden, Michael J. Atkinson, A. Murray Sinclair, E. Kenneth Paul and David M. Schmidt as directors of the Company. Following the Meeting, the directors appointed Paul van Eeden as Chairman, Philip du Toit as President and John Downes as Chief Financial Officer.
Completion of the Change of Business remains subject to final TSXV acceptance and there can be no assurance that the Change of Business will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Circular, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon.
The Company also completed the sale of its two mineral exploration properties (Mel property and Barb property in the Yukon Territory) for $200,000 cash and a 1% net smelter return ("NSR") royalty. The purchaser has the right to repurchase the NSR royalty for $1 million.
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
Kobex Minerals Inc.
Phil du Toit
President and CEO
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