Kobex Resources Ltd.
TSX VENTURE : KBX

Kobex Resources Ltd.

April 23, 2007 08:40 ET

Kobex Announces Bought Deal Financing

TORONTO, ONTARIO--(CCNMatthews - April 23, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Kobex Resources Limited (TSX VENTURE:KBX) (the "Company") confirms an agreement with a syndicate of underwriters led by Desjardins Securities Inc. and including Raymond James Ltd. Canaccord Capital Corporation, Dundee Securities Corporation and Jennings Capital Inc. (collectively, the "Underwriters) to raise $17,500,425 on a bought deal basis consisting of a private placement of 6,140,500 Units at a price of $2.85 per Unit. Each Unit is comprised of one common share (a "Share") and one-half of a one Share purchase warrant (each whole Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Share at a price of $3.56 at any time for a period of 24 months from the date of the closing of the Offering.

The Underwriters have also been granted an option to place, prior to closing, up to an additional 921,100 Units at a price of $2.85 per Unit for further gross proceeds of $2,625,135 and for aggregate gross proceeds of $$20,125,560.

Closing of the transaction is expected to occur on or about May 10, 2007 and is subject to normal regulatory approvals. The net proceeds of the Offering will be for exploration, and development work at the Lucky Jack (Mount Emmons) molybdenum deposit in Colorado. It remains subject to the execution of an underwriting agreement, TSX Venture Exchange approval and other usual conditions.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Kobex Resources Limited

Kobex Resources Limited is a Canadian-based junior mining company with an option to acquire a 65% interest in the Lucky Jack (previously known as the Mount Emmons Project) molybdenum deposit in Colorado, USA. Kobex's shares are traded on the TSX-Venture under the symbol KBX.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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