OMAHA, NE, May 27, 2016 /CNW/ - Ballantyne
Strong, Inc. (NYSE MKT: BTN), a holding company with diverse
business activities focused on serving the cinema, retail,
financial and government markets, announces that it has acquired
indirect ownership of an aggregate of 996,500 common shares
("Shares") of Kobex Capital Corp. (TSX-V: KXM; OTCQB: KBXMF)
("Kobex") through open market purchases on the TSX-V market. This
announcement is made by Ballantyne
Strong to comply with certain legal requirements under
Canadian securities legislation respecting its ownership of
securities of Kobex.
The Shares were acquired by Strong/MDI Inc., a wholly-owned
subsidiary of Ballantyne Strong, and
having a head office address at 1440 Rue Raoul Charette,
Joliette, Quebec, J6E 8S7.
As a result of the acquisition of the Shares, Ballantyne Strong now, indirectly, beneficially
owns and exercises control over an aggregate of 6,527,500 Shares,
representing approximately 14.3 % of the 45,481,387 issued and
outstanding common shares of Kobex (as disclosed in Kobex's Issuer
Bid Circular dated April 29, 2016).
Ballantyne Strong paid an average of
Cdn$0.657 per Share for the recently
acquired Shares that are subject to this news release for total
consideration of Cdn$654,570.
Ballantyne Strong acquired the
Shares for strategic purposes and may, depending on market and
other conditions, increase or decrease beneficial ownership,
control or discretion over, shares or other securities of Kobex
through market transactions, private agreements or otherwise.
The head office of Kobex is located at Suite 1703, 595 Burrard
Street, Vancouver, British
Columbia.
Strong/MDI Inc. will file with the Canadian regulators within
the prescribed period an early warning report providing details on
the acquisition. The report will be available on SEDAR. In
addition, a copy of the report may be obtained by contacting
Elise Stejskal at the below number.
SOURCE Ballantyne Strong