TORONTO, Sept. 9, 2015 /CNW/ - On September 9, 2015, Kingsway Financial Services Inc. (Kingsway), acquired ownership and control over 4,299,500 common shares (the Acquired Shares) of Kobex Capital Corp. (Kobex) at a price of $0.65 per share, representing approximately 9.45% of the issued and outstanding common shares of Kobex (Common Shares) based on 45,481,387 Common Shares issued and outstanding as of August 19, 2015 as stated by Kobex in its management discussion & analysis for the second financial quarter ended June 30, 2015 (the Outstanding Kobex Common Shares). After giving effect to the acquisition of the Acquired Shares, Kingsway owns and controls an aggregate of 5,944,500 Common Shares, representing approximately 13.07% of the Outstanding Kobex Common Shares.
Kingsway acquired the Acquired Shares through the facilities of the TSX Venture Exchange. Kingsway acquired the Acquired Shares for investment purposes. Kingsway is considering and evaluating various means to enhance shareholder value at Kobex. Kingsway expects to seek to engage with management and/or the board of Kobex in dialogue and actions related to maximizing shareholder value, exploring strategic alternatives and related matters, up to and including shareholder proposals and requisitions. Depending on market and other conditions, Kingsway may determine, from time to time, to increase or decrease its respective ownership, or control and direction over, securities of Kobex.
Kingsway's address and other contact information is set forth below. For further information, including to obtain a copy, once filed, of the "early warning" report required to be filed in accordance with applicable Canadian securities laws, contact Kingsway at the address specified below.
Kingsway Financial Services Inc.
150 Pierce Road, 6th Floor
Itasca, Illinois USA
Attn: Hassan Baqar, VP
SOURCE Kingsway Financial Services Inc.