KazaX Minerals Inc.: Early Warning Report
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/18/12 -- KazaX Minerals Inc. (the "Company") (TSX VENTURE: KZX) - On March 15, 2012, Mr. Riad Tawfiq Mahmood Al Sadek completed the acquisition of 14,000,000 common shares of the Company at a price of $0.20 per share (the "Shares") for an aggregate purchase price of $2,800,000. Mr. Al Sadek also acquired 14,000,000 subscription receipts of the Company issued at a price of $0.20 per subscription receipt (the "Subscription Receipts"). The Shares and the Subscription Receipts were acquired by Mr. Al Sadek in a private placement transaction of the Company that closed on March 15, 2012 (the "Financing"). Mr. Al Sadek's 14,000,000 Subscription Receipts automatically converted into 14,000,000 Shares on July 16, 2012. With the acquisition of the Shares and the conversion of 14,000,000 Subscription Receipts, Mr. Al Sadek owns or exercises control or direction over 28,000,000 Shares representing 20.26% of the Company's issued and outstanding Shares on an undiluted basis (19.60% on a fully diluted basis).
In the Financing Mr. Moshtagh Moshtaghi completed the acquisition of 14,000,000 Shares at a price of $0.20 per Share for an aggregate purchase price of $2,800,000 and 14,000,000 Subscription Receipts issued at a price of $0.20 per Subscription Receipt. All of the Subscription Receipts held by Mr. Moshtaghi automatically converted into 14,000,000 Shares on July 16, 2012. With the acquisition of the Shares and the conversion of 14,000,000 Subscription Receipts, Mr. Moshtaghi owns or exercises control or direction over 28,000,000 Shares representing 20.26% of the Company's issued and outstanding Shares on an undiluted basis (19.60% on a fully diluted basis).
Maxsteel Industry LLC. ("Maxsteel") acquired 7,750,000 Subscription Receipts in the Financing which automatically converted into 7,750,000 Shares on July 16, 2012. With the conversion of 7,750,000 Subscription Receipts, Maxsteel owns or exercises control or direction over 16,022,000 Shares representing 11.59% of the Company's issued and outstanding Shares on an undiluted basis (11.22% on a fully diluted basis).
Mr. Tareq Damerji acquired 7,675,000 Subscription Receipts in the Financing which automatically converted into 7,675,000 Shares on July 16, 2012. With the conversion of 7,675,000 Subscription Receipts, Mr. Damerji owns or exercises control or direction over 15,872,222 Shares representing 11.48% of its issued and outstanding Shares on an undiluted basis (11.11% on a fully diluted basis).
Mr. Hamed Moshtaghi acquired 7,675,000 Subscription Receipts in the Financing which automatically converted into 7,675,000 Shares on July 16, 2012. With the conversion of 7,675,000 Subscription Receipts, Mr. Moshtaghi owns or exercises control or direction over 15,872,222 Shares representing 11.48% of its issued and outstanding Shares on an undiluted basis (11.11% on a fully diluted basis).
The securities described in this news release were acquired for investment purposes. Maxsteel and Messrs. Al Sadek, Moshtagh Moshtaghi, Hamed Moshtaghi and Damerji may increase or decrease their respective beneficial ownership of the Company's securities depending on future economic or market conditions and personal circumstances.
A copy of the early warning report required to be filed with the applicable securities commissions in connection with the acquisition described in this news release will be available for viewing at .
The information contained in this news release has been provided by Maxsteel and Messrs. Al Sadek, Moshtaghi Moshtaghi, Hamed Moshtaghi and Damerji and the Company is not responsible for its accuracy.
On behalf of the board of directors
KazaX Minerals Inc.
David Savage, Chairman of the Board
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 of the adequacy or accuracy of this release.
Contacts:
KazaX Minerals Inc.
Carlos Ballon
(778) 998-3423
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Datum: 18.07.2012 - 23:13 Uhr
Sprache: Deutsch
News-ID 166694
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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"KazaX Minerals Inc.: Early Warning Report"
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