13 , 2003
Int'l PBX Ventures
shares acquired by Prudent Bear Fund
Prudent Bear has acquired control and direction, through Prudent Bear
Fund, a mutual fund controlled by Prudent Bear, over 1.4 million common
shares (representing 5.8 per cent of the outstanding shares) and warrants
to purchase an additional 1.4 million common shares of International PBX
Ventures Ltd. of Vancouver, B.C. If such warrants were exercised, Prudent
Bear would have control and direction over 11.0 per cent of the outstanding
shares of the company. Prudent Bear does not own or have control or direction
over any other securities of the company.
Prudent Bear acquired the shares and warrants for investment purposes
and have filed an early warning report with the British Columbia and Alberta
Securities commissions in respect of the shares and warrants acquired.
Copies of the report may be obtained from Stockwatch SEDAR files or without
charge from Prudent Bear.
BY ORDER OF THE BOARD
The TSX Venture Exchange
has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
The company relies on forward-looking statement litigation protection
INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Tel: (604) 681-7748
Fax: (604) 681-0568
Email: [email protected]
Trading Symbol: IVU - Canadian Venture Exchange