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KBX Kobex Resources Com Npv

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Share Name Share Symbol Market Type
Kobex Resources Com Npv TSXV:KBX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Barytex & Kobex Shareholders Approved Plans of Arrangement

25/09/2009 11:35pm

Marketwired Canada


IMA Exploration Inc. ("IMA") (TSX VENTURE:IMR)(NYSE Amex:IMR), Kobex Resources
Ltd. ("Kobex") (TSX VENTURE:KBX) and International Barytex Resources Ltd.
("Barytex") (TSX VENTURE:IBX) are pleased to announce that the the business
combination (the "Transaction") announced in joint news releases dated July 16
and August 18, 2009, and described in the Joint Information Circular mailed to
Kobex and Barytex shareholders, was approved by the shareholders of each of
Kobex and Barytex at special meetings held on September 25, 2009.


The resolutions to approve the Transaction were approved by 99.9% of the votes
cast by the Kobex shareholders at the Kobex special shareholders' meeting and by
99.4% of the votes cast by the Barytex shareholders at the Barytex special
shareholders' meeting. Each of Kobex and Barytex will make an application to the
Supreme Court of British Columbia on September 28, 2009 for a final order
approving the Transaction. Closing of the Transaction is anticipated to occur on
Wednesday, September 30, 2009. Upon completion of the Transaction, Kobex and
Barytex will be wholly-owned subsidiaries of IMA. Trading of the shares of Kobex
and Barytex on the TSX Venture Exchange has been halted pending completion of
the Transaction. Following the completion of the Transaction, it is expected
that the shares of Kobex and Barytex will be delisted from the TSX Venture
Exchange. 


In addition, at the special meeting of the shareholders of IMA held on September
25, 2009, the shareholders of IMA approved the consolidation of IMA's common
shares on a 2.4 old shares for one new share basis, and that the name of IMA be
changed to "Kobex Minerals Inc.". It is anticipated that the consolidation and
name change will become effective immediately following the completion of the
Transaction.


CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

This news release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Assumptions upon which such forward looking statements
are based include that IMA, Barytex and Kobex will be able to satisfy the
conditions in the definitive agreement, that all third party regulatory and
governmental approvals to the transactions will be obtained and all other
conditions to completion of the transaction will be satisfied or waived. Many of
these assumptions are based on factors and events that are not within the
control of IMA, Barytex or Kobex and there is no assurance they will prove to be
correct.


1 Year Kobex Resources Com Npv Chart

1 Year Kobex Resources Com Npv Chart

1 Month Kobex Resources Com Npv Chart

1 Month Kobex Resources Com Npv Chart

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