Kazax Minerals Inc.
TSX VENTURE : KZX

Kazax Minerals Inc.

September 09, 2016 10:48 ET

Kazax Reports Results From Its Annual General and Special Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2016) - Kazax Minerals Inc. ("Kazax" or the "Company") (TSX VENTURE:KZX) announces that all resolutions presented at the Company's annual general and special meeting held on Thursday, September 8, 2016 (the "Meeting"), were duly passed. In addition to the re-election of the Company's directors and the appointment of Grant Thornton LLP as auditors, the shareholders of the Company passed a special resolution to approve the previously announced plan of arrangement pursuant to which 1069411 B.C. Ltd. ("Newco") will acquire all of the outstanding common shares of Kazax that it does not already own, for $0.01 per share (the "Transaction"). The Transaction will be completed pursuant to a court approved Plan of Arrangement under the Business Corporations Act (British Columbia), as more particularly described in the Company's news release dated August 10, 2016.

Newco is a private British Columbia company incorporated for the sole purpose of entering into and completing the Transaction with Kazax. Newco is owned by certain significant shareholders and creditors of Kazax, including each of Moshtagh Moshtaghi, Riad Al Sadek and Safin Element GmbH (collectively the "Control Group"). Any votes cast at the Meeting by the Control Group and other related shareholders of Newco were excluded from voting on the special resolution approving the Transaction.

ON BEHALF OF THE BOARD

Mohamad Chafic, President and CEO

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.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, receipt of approval from the TSXV and the Supreme Court of British Columbia, completion of the acquisition of Kazax and other expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in market conditions. In light of the many risks and uncertainties the reader should understand that Kazax cannot give any assurance that the forward-looking statements contained in this press release will be realized. Specifically, there is no assurance the acquisition of Kazax will be completed as outlined above, or at all.

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