Leading Independent Proxy Firm, RiskMetrics ISS Canada, Recommends Securityholders Vote FOR the Arrangement Involving the Combin
September 14 2009 - 6:12PM
Marketwired
Kobex Resources Ltd. ("Kobex") (TSX VENTURE: KBX) and International
Barytex Resources Ltd. ("Barytex") (TSX VENTURE: 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.
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.
Neither 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 Resources Ltd. Leo King President 604-484-6228
604-688-9336 (FAX) www.kobexresources.com International Barytex
Resources Ltd. Leo King President 604-688-9368 604-688-9336 (FAX)
www.barytex.com
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