Kobex Resources Ltd.

Kobex Resources Ltd.

April 25, 2007 07:30 ET

Kobex Announces Increased Bought Deal Financing

TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) -


Kobex Resources Limited (TSX VENTURE:KBX) (the "Company") is pleased to announce that it has increased its previously announced bought private placement financing (the "Offering") from $17.5 million to $24.5 million. The offering consists of 8,600,000 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 exercisable until 24 hours prior to closing to purchase up to an additional 1,290,000 Units, on the same terms and conditions, for further gross proceeds of $3,676,500 and for aggregate gross proceeds of $28,186,500.

The syndicate for the Offering is led by Desjardins Securities Inc. and includes Raymond James Ltd., Canaccord Capital Corporation, Dundee Securities Corporation and Jennings Capital Inc. (collectively, the "Underwriters).

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 Exchange under the symbol KBX.

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

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