PBX
Announces Private Placement
International
PBX Ventures Ltd. (the "Company") (TSX.V:PBX) announces that, subject to TSX
Venture Exchange approval, it will raise up to $600,000 by way of a
non-brokered private placement of up to 7,500,000 units at a price of $0.08 per
unit. 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 Company may pay finder?s fees
in accordance with the policies of the TSX Venture Exchange in connection with
the private placement.
Proceeds of the private placement will be used for general working capital.
About PBX
International PBX Ventures Inc. is a junior
exploration Company with a strong portfolio of copper, molybdenum and gold
projects in Chile. The 100% owned Copaquire copper
molybdenum property is the Company?s flagship project and is located in Chile?s
prolific copper porphyry belt. The Quebrada Blanca
and Collahuasi (the third largest copper mine in the
world) producers are within 15 kilometres of the
property.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
?Terry Lynch?
Terry Lynch, President