Kobex Resources Ltd. (TSXV: KBX)
International Barytex Resources Ltd. (TSXV: IBX)
VANCOUVER, Sept. 15 /CNW Telbec/ - Kobex Resources Ltd. ("Kobex") (TSXV: KBX) and International Barytex Resources Ltd. ("Barytex") (TSXV: IBX) are pleased to announce that RiskMetrics ISS Canada ("RiskMetrics"), Canada's leading independent proxy firm, has concluded that the proposed business combination (the "Transaction") among Kobex, Barytex, and IMA Exploration Inc. as announced on August 18, 2009, warrant shareholder support. RiskMetrics indicated that there are no governance concerns, and is recommending that Kobex and Barytex securityholders vote FOR the proposed Transaction.
Kobex and Barytex have scheduled special meetings of their respective shareholders to be held on September 25, 2009 at which they will seek the shareholder approvals required in connection with the Transaction. Kobex and Barytex securityholders are encouraged to review the respective Notices of Special Meeting and Joint Information Circular dated August 25, 2009. The Joint Information Circular provides, among other things, a detailed discussion of the process that led to the proposed Transaction and the reasons behind Kobex's and Barytex's respective Board of Directors' unanimous recommendations that shareholders vote FOR the transaction. Subject to satisfaction of all conditions, completion of the Transaction is expected to occur on or before September 30, 2009.
The Kobex and Barytex Boards urge shareholders to vote their proxy FOR the proposed Transaction today by signing, dating and returning their proxies. The deadline for submitting proxy forms is two business days (48 hours) prior to the meeting. Proxies may be mailed to the company's transfer agent, Computershare Investor Services Inc., 9th Floor, 100 University Avenue, Toronto, Ontario, M5J 2Y1. If shareholders have any questions about the information contained in the Joint Information Circular or require assistance in completing their proxy forms, please contact the proxy solicitation agent for Kobex and Barytex, The Laurel Hill Advisory Group, toll-free at 1-888-340-3385.
About RiskMetrics Group
RiskMetrics Group is Canada's leading independent proxy advisory firm and the leading authority on proxy voting and corporate governance issues in Canada. RiskMetrics has been providing advisory and voting services to leading pension funds, investment managers, mutual funds and other institutional shareholders since 1987.
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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 the due diligence investigations of each party will not identify any materially adverse facts or circumstances, that the required approvals will be obtained from the shareholders of each of IMA, Barytex and Kobex, 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.
SOURCE INTERNATIONAL BARYTEX RESOURCES LTD.
For further information: For further information: Leo King, President of Kobex Resources Ltd., (604) 484-6228, fax: (604) 688-9336; www.kobexresources.com; Leo King, President of International Barytex Resources Ltd., (604) 688-9368, fax: (604) 688-9336; www.barytex.com