VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 8, 2016) – Kobex Capital Corp. (TSX VENTURE:KXM) (the “Company” or “Kobex“) announced today the results of its substantial issuer bid to purchase for cash and cancellation up to 40,809,178 common shares of Kobex (the “Kobex Shares”) at a price of $0.655 per Kobex Share (the “Offer“).
The Offer expired at 5:00 p.m. (Toronto time) on June 6, 2016. Based on the report dated June 7, 2016 provided by the depositary in respect of the Offer, 25,820,761 Kobex Shares had been deposited as at the expiration of the Offer (and not withdrawn).
Pursuant to the terms of the Offer, Kobex has taken up 25,820,761 Kobex Shares at a price of $0.655. The aggregate consideration for the Kobex Shares taken up and accepted for purchase and cancellation by the Company is $16,912,598.46. Payment for such Kobex Shares will be made as soon as practicable following take-up by the Company and otherwise in compliance with the Offer. Kobex Shares not validly deposited under the Offer will be returned to the applicable shareholders as promptly as possible.
The Kobex Shares to be purchased under the Offer represent approximately 54.20% of the Kobex Shares issued and outstanding as of June 6, 2016. After such purchase, approximately 21,810,626 Kobex Shares will remain outstanding.
Computershare Trust Company of Canada is the depositary in respect of the Offer. Kobex Shareholders may contact Computershare toll free at 1-800-564-6253 or by e-mail at [email protected] for further information regarding the Offer.
Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any anticipated results, performance or achievements expressed or implied by such forward-looking statements. The use of any of the words “anticipate”, “continue”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe”, “plan” and “intends” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements may relate to Kobex’s management’s expectations, estimates and analysis with respect to its business strategy.
Forward-looking statements are based on certain factors and assumptions and there can be no assurance that these assumptions will prove to be correct. Readers are cautioned that forward-looking statements included in this news release are not guarantees of future performance, and are also cautioned not to place undue reliance on forward-looking statements which involve known and unknown material risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any anticipated results, performance or achievements expressed or implied in such forward-looking statements. These statements speak only as of the date of this news release. Kobex undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law.
All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that any anticipated results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Kobex.
Neither of the 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 news release.
Philip du Toit
President and CEO
647-818-2920
www.kobex-capital.com
