Kobex Minerals Inc.
|July 02, 2004|
Corporate Reorganization Update
|2004 Number 22|
IMA Exploration Inc (IMR - TSX.V) is pleased to announce that all conditions to the Company's proposed reorganization, including Court and exchange approval, have been satisfied. The corporate reorganization will become effective on July 7, 2004 at which time the Company's assets will be split into two public companies: IMA, which will continue to hold the Navidad Area Properties, including the Navidad Project; and Golden Arrow Resources Corporation, which will hold the other exploration properties.
Each IMA shareholder of record on July 7, 2004 will receive one Golden Arrow common share for each 10 IMA common shares held. IMA's common shares will begin trading on the TSX Venture Exchange ("TSX-V") without the right to receive Golden Arrow shares at the opening on Monday July 5, 2004.
The shares of Golden Arrow have been conditionally approved for listing on TSX-V, subject to completion of the arrangement and filing of final documentation. It is expected that the Golden Arrow shares will begin trading on the TSX-V on Friday July 9, 2004.
Post Reorganization Asset Allocation
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, President & CEO
For further information please contact Joseph Grosso, President & CEO, or Sean Hurd, Investor Relations Manager, at 1-800-901-0058 or 604-687-1828, or fax 604-687-1858, or by email email@example.com, or visit the Company's web site at http://www.imaexploration.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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