Kobex Announces Voluntary De-listing from the NYSE MKT Exchange
10 Mai 2013 - 11:23PM
Marketwired
Kobex Minerals Inc. (the "Company") (TSX VENTURE:KXM)(NYSE MKT:KXM)
has filed a notification with the NYSE MKT to voluntarily delist
its common shares from the exchange. Following de-listing from the
NYSE MKT, the Company's shares will continue to trade on the TSX
Venture Exchange (KXM.V) and on the Over-the-Counter market in the
USA on the OTCQB tier of the OTC Link.
To effect the de-listing, the Company intends on filing a Form
25 with the United States Securities and Exchange Commission (the
"SEC") on or about May 20, 2013. The Company expects that trading
of its shares on the NYSE MKT will be terminated on or about May
30, 2013.
The decision to de-list was made after the Board of Directors of
the Company considered the prevailing market conditions and
concluded that, given its cash resources in excess of 35 million
dollars, the Company's focus should be entirely on property
acquisition and cost containment. The Company believes that
continued distress in the minerals sector will result in
acquisition opportunities that will be accretive to shareholders
and that until an acquisition can be made the Company should limit
its expenses of which listing fees on the NYSE MKT is a
component.
Kobex is following a prudent, value oriented acquisition
strategy and does not want to rush into an acquisition to meet NYSE
MKT continued listing requirements The Company has therefore
concluded it is in the best interests of its shareholders to
de-list from the NYSE MKT exchange.
On behalf of the Board of Directors
KOBEX MINERALS INC.
Alfred Hills, President and CEO
Cautionary Note Regarding Forward-Looking Information
Information set forth in this press release may involve
forward-looking statements or forward looking information as
defined under applicable securities laws. By their nature,
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Kobex's control, including:
the date on which a Form 25 will be filed; the date on which the
Company's common shares will cease to trade on NYSE MKT; and, the
timing and benefit to shareholders of a potential acquisition of a
new exploration project. Readers are cautioned that the assumptions
used in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on
forward-looking statements. Kobex's actual results, programs and
financial position could differ materially from those expressed in
or implied by these forward-looking statements. Kobex undertakes no
obligation to update forward-looking information if circumstances
or management's estimates or opinions should change, unless
required by law. The reader is cautioned not to place undue
reliance on this forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Kobex Minerals Inc. Alfred Hills President
604-688-9368 604-688-9336 (FAX)investor@kobexminerals.com
Kobex Minerals Inc. (AMEX:KXM)
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