2009
Kobex Minerals Inc.
Merger by Plan of Arrangement
We acted as lead transaction counsel and corporate counsel to Kobex Minerals Inc. (formerly IMA Exploration Inc.) in connection with a three way business combination of three listed companies. The other parties to the merger were International Barytex Resources Ltd. and Kobex Resources Ltd.
The business combination was effected by statutory plans of arrangement pursuant to which all of the securities of International Barytex Resources Ltd. and Kobex Resources Ltd. were exchanged for securities of Kobex Minerals Inc. As a result, International Barytex Resources Ltd. and Kobex Resources Ltd. became wholly owned subsidiaries of Kobex Minerals Inc. and were delisted from the TSX Venture Exchange. The amalgamated company retained its listings on the TSX Venture Exchange and the NYSE Amex market.
The transaction closed on September 30, 2009. At closing, the cash position of the combined entity was estimated at approximately $44 million. Kobex Minerals Inc. intends to use the funds to attract, acquire and advance high calibre mineral projects.