PBX Completes Non Brokered Private Placement
International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) is pleased to announce that it has closed its private placement financing previously announced on April 12, 2012. The full private placement was oversubscribed such that the previously announced non brokered private placement of 6,250,000 Units at a price of Cdn. $0.08 per Unit for total gross proceeds of Cdn. $500,000 resulted in total gross proceeds of Cdn. $672,120 and the Company�s issuance of a total of 8,401,500 Units. The Units are subject to a hold period of four months and one day from the date of issuance. Each unit will consist of one common share and one-half of a warrant. One whole warrant entitles the holder to purchase one additional share at $0.12 per share for two years from the closing date of the private placement. The warrants are subject to an acceleration clause which is triggered when the Company's shares trade at $0.20 or more for ten consecutive trading days. Upon the occurrence of such event, the Company reserves the right, at its discretion, to demand exercise of the warrants within a specified period of time, barring which the warrants will expire. The proceeds of the private placement will be used for general working capital.
Intl. PBX Ventures est une société d’exploration minière de cuivre basée au Canada.
Intl. PBX Ventures détient divers projets d'exploration au Canada et au Chili.
Ses principaux projets en exploration sont HORNITOS, TABACO, LAS LOMITAS CHILE, SIERRA PINTADA PROPERTY, PALO NEGRO - HORNITOS, TIERRA DE ORO, COPAQUIRE, SAN JV et ZULEMA au Chili et CROSS LAKE au Canada.