PBX announces exercise of warrants for proceeds of $2,845,875
VANCOUVER, B.C.� International
PBX Ventures Ltd. (�PBX� or the "Company") (TSX.V:PBX) is
pleased to announce that it has received total proceeds of $2,845,875 from
the exercise of 97% of the total 8,546,250 warrants issued pursuant to two
private placement offerings that closed August and November 2010. The
warrants were exercisable at $0.30 and $0.35 per share and both expired on
July 18, 2011. Accordingly, the Company has issued 8,266,250 common shares in
exchange for the exercised warrants. The Company has no further warrants
outstanding.
The proceeds from the exercise of the warrants will
be used for working capital purposes and to fund exploration work on the
Company�s Copaquire copper molybdenum property
located in northern Chile
About International PBX Ventures Inc.
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. This arc-parallel belt includes 30
porphyry Cu-Mo deposits and prospects with the largest amount of copper
concentration in the world, totalling about 220
million tonnes of copper. The Quebrada
Blanca and Collahuasi (the third largest copper
mine in the world) producers are within 15 kilometres
of the property. For more information, please visit the Company�s website: www.internationalpbx.com
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
�George Sookochoff�
George Sookochoff,
President & CEO
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 for the adequacy or accuracy of this
release.
International PBX Ventures Ltd. seeks safe harbor.
#209 - 475 Howe St., Vancouver, B.C. V6C 2B3
Ph: 604-681-7748 Toll Free: 1-877-681-1154
E: corpdev@internationalpbx.com W: http://www.internationalpbx.com
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