Kazax Provides Update on Lomonosovskoye Project
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2015) - Kazax Minerals Inc. (TSXV: KZX) ("Kazax" or the "Company") announces it is in discussions with Safin Element GmbH ("Safin") to reschedule the cash payment of US$4 million due to Safin in connection with the terms of the acquisition of a 74.99% interest in the Lomonosovskoye Limited Liability Partnership from Safin (the "Acquisition"). Under the current terms of the Acquisition, the Company was due to make a payment to Safin of US$4 million on January 15, 2015. Pursuant to the terms of the Acquisition, Safin has agreed not to enforce this payment until such amount is overdue by 90 days. While the extended deadline has expired, the Company is in negotiations with Safin to resolve the matter.
The Company will provide a further news release on the discussions with Safin in due course.
ON BEHALF OF THE BOARD
Trevor Campbell Smith,
President & CEO
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Kazax Minerals Inc.
Tel: +7 7172 79 03 95
info@kazaxmineralsinc.com
www.kazaxmineralsinc.com
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