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Press
Release 08-10
ICS Copper
Systems Ltd Announces $1.1 Million Private Placement
May 26th
2008 - Abbotsford, British Columbia, Canada � ICS Copper Systems Ltd. (ICX:TSX.V) reports that it has arranged a private placement of 2,750,000 units
at a price of $0.40 per Unit for gross proceeds of $1,100,000. Each
Unit will consist of one common share and one full warrant entitling the
holder to purchase a common share at a price of $0.50 for a period of 24
months after closing. Completion of the placement remains subject to
TSX Venture Exchange approval.
Finder�s
fees will be paid up to 10% of the proceeds in connection with the placement,
subject to Exchange approval.
Amendment
Agreement
The
Company wishes to report that it has signed an �Amendment Agreement� to the
�Mining Option and Joint Venture Agreement� for the Mokambo Property,
initially signed by the company on August 7th 2006, which
effectively allows for the balance of $ 1,900,000 to be repaid over a longer
period of time, with the last payment being due April 30, 2010.
The
Company is presently in discussions to increase its equity option position in
the Mokambo property from 70% to 90%.
The Company wishes to advise that Mr. Graham Chisholm will be
presenting at the Investment Conference in London
England �Mining in Zambia & Zimbabwe, The Opportunities, Risk
& Rewards� on June 25, 2008 to a host of Mining Analyst and
Institutional Investors.
ICS
COPPER SYSTEMS LTD.
Signed
�Graham Chisholm�
Graham
Chisholm, President & CEO
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
This release includes certain statements that are
�forward-looking statements�. All statements in this release, other than
statements of historical facts that address future exploration, development
and production activities, and other circumstances, events and developments
that the Company expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future
performance, and actual results, events and developments may differ
materially from those in the forward-looking statements. The occurrence of
certain risk factors, the probability of which is unknown, may also affect
actual results, events and developments expected by the Company.
For Further information
contact:
Graham Chisholm, President � (604) 859-3007 � Email:
graham@icscopper.com
Brett Whitelaw, Vice-President of Public
Relations � (778) 836-5891 � Email: brett_whitelaw@telus.net
www.icscopper.com
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