Kobex Shareholders Reject Kingsway's Proposal to Remove Current Board
VANCOUVER, BC--(Marketwired - November 17, 2015) - Kobex Capital Corp. (TSX VENTURE: KXM) (OTCQB: KBXMF) (the "Company" or "Kobex") is pleased to announce that its shareholders have, at the special meeting of shareholders of Kobex held earlier today in Toronto (the "Special Meeting"), voiced their support for the current board of directors of Kobex (the "Board") by defeating resolutions proposed by Kingsway Financial Services Inc. ("Kingsway"). The Special Meeting was called by the Company in response to the meeting requisition received on September 17, 2015 from Kingsway.
"We thank shareholders for their support during this proxy contest, which has been very costly and disruptive to Kobex," said Paul van Eeden, Chairman of Kobex. "The Board and management of Kobex are committed to, and will now be able to return to focusing their attention on creating value for all shareholders. The Board and management of Kobex do not take lightly the trust placed in them by Kobex shareholders and will continue to explore and evaluate strategic opportunities in order to maximize shareholder value and to act in the best interests of Kobex and all of its shareholders."
Stikeman Elliott LLP acted as legal advisor to Kobex in connection with the proxy contest and D.F. King & Co. Inc. acted as its proxy solicitation agent.
Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any anticipated results, performance or achievements expressed or implied by such forward-looking statements. The use of any of the words "anticipate", "continue", "expect", "may", "will", "would", "project", "should", "believe", "plan" and "intends" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements may relate to Kobex's management's expectations, estimates and analysis with respect to its business strategy.
Forward-looking statements are based on certain factors and assumptions regarding, among other things, market acceptance of Kobex's corporate strategy and corporate endeavours and the success of Kobex's announced corporate strategy and future transactions. There can be no assurance that these assumptions will prove to be correct. Readers are cautioned that forward-looking statements included in this news release are not guarantees of future performance, and are also cautioned not to place undue reliance on forward-looking statements which involve known and unknown material risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any anticipated results, performance or achievements expressed or implied in such forward-looking statements. These statements speak only as of the date of this news release. Kobex undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law.
All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the anticipated results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Kobex.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact
For further information, please contact:
Kobex Capital Corp.
Philip du Toit
President and CEO
Tel: 647-818-2920