VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 10, 2017) - Kazax Minerals Inc. ("Kazax") (TSX VENTURE:KZX) announces as an update to its news releases dated August 10, 2016, November 25, 2016 and December 15, 2016 the completion of its transaction (the "Transaction") with 1069411 B.C. Ltd. ("Newco") whereby Newco has acquired all of the outstanding common shares of Kazax that it did not already own, for $0.01 per share (the "Kazax Shares"). The Transaction was completed pursuant to a Plan of Arrangement in accordance with the Business Corporations Act (British Columbia), which was approved by Kazax's minority shareholders on September 8, 2016 and by the British Columbia Supreme Court on September 13, 2016.
In accordance with the terms of the Transaction, Kazax's common shares have been delisted from the TSX Venture Exchange and Kazax has now ceased to be a reporting issuer under the securities laws of British Columbia and Alberta.
Following completion of the Transaction, Newco now has direct ownership and control over 100% of the issued and outstanding common shares of Kazax, which, as of December 16, 2016, consisted of 218,057,971 common shares.
Details of the Transaction are contained in Kazax's management information circular filed at www.sedar.com on August 12, 2016.
On behalf of the Board of Directors
Riad Al Sadek, Chairman of the Board
NEITHER THE 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.