Kazax announces that it intends to complete, subject to the approval of the TSX Venture Exchange, a non-brokered private placement for US$20,000,000 in aggregate principal amount of convertible secured debentures and an aggregate of 100,000,000 warrants to purchase common shares of the Company. The Company intends to issue the Securities to two of the Company's directors, Messrs. Riad Al Sadek and Moshtagh Moshtaghi
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