Cranberry Capital Inc.

December 10, 2014 14:27 ET

Cranberry Capital Acquires Equity Stake in Kobex Capital Inc.

NEWMARKET, ONTARIO--(Marketwired - Dec. 10, 2014) - Mr. Paul van Eeden, President of Cranberry Capital Inc. ("Cranberry"), announced that Cranberry acquired beneficial ownership of 230,000 common shares of Kobex Capital Inc. ("Kobex") at an average price of $0.55 per share through the facilities of the TSX Venture Exchange on December 9, 2014.

Mr. van Eeden is also the President and Chief Executive Officer of 2260761 Ontario Inc., a private investment company, which beneficially owns 4,118,000 common shares of Kobex. Together with Cranberry's existing equity stake in Kobex, Mr. van Eeden now beneficially owns, or exercises control and direction over, an aggregate of 4,657,000 common shares of Kobex, representing 10.24% of the issued and outstanding common shares. Mr. van Eeden is also the Chairman of the Board of Directors of Kobex.

Cranberry has purchased the common shares of Kobex for investment purposes, and its present intention is to purchase additional common shares. Cranberry's equity stake in Kobex may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.

Kobex is listed on the TSX Venture Exchange under the symbol "KXM".

About Cranberry Capital Inc.

Cranberry Capital Inc. is a private Canadian holding company owned by Mr. Paul van Eeden.

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.

Contact Information

  • Cranberry Capital Inc.
    Mr. Paul van Eeden
    President
    +1 (416) 727-1908
    paul@pve.net