VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 25, 2016) - Kazax Minerals Inc. ("Kazax") (TSX VENTURE:KZX) announces that, further to its news releases of August 10, 2016 and September 9, 2016, it is finalizing documents and materials with Computershare Investor Services Inc. and the TSX Venture Exchange to complete the arrangement agreement with 1069411 B.C. Ltd. ("Newco") whereby Newco has agreed to acquire all of the outstanding common shares of Kazax that it does not already own, for $0.01 per share (the "Transaction"). The Transaction has been approved by Kazax's shareholders and by the BC Supreme Court pursuant to a Plan of Arrangement under the Business Corporations Act (British Columbia).
Immediately following closing of the Transaction, Kazax will complete its application to the TSX Venture Exchange to delist its shares from trading; and will make application to the BC and Alberta Securities Commissions to cease to be a reporting issuer.
Kazax also advises that Grant Thornton LLP, have resigned as the company's auditors. Kazax has no present intention of engaging a new auditing firm, as upon closing of the Transaction, it will no longer be required to file audited financial statements.
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.
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, completion of the Transaction, 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 management's 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 privatisation of Kazax will occur as outlined above, or at all.