Announces Private Placement
International PBX Ventures Ltd. (the "Company") (TSX.V:PBX) announces
that, subject to TSX Venture Exchange approval, it will raise $600,000 by way
of a non-brokered private placement of four million units at a price of $0.15
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 $0.25
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 $0.35 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
Proceeds of the private placement will be used for general working capital.
The private placement previously announced on December
09, 2011 has been cancelled due to changes in market share price.
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 Copper Molybdenum deposits
and prospects with the largest amount of copper concentration in the world,
totaling 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.
ON BEHALF OF
THE BOARD OF DIRECTORS OF
PBX VENTURES LTD.
International PBX Ventures, Ltd.
CODE : PBX.V
ISIN : CA4599591027
CUSIP : 459959 102
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