May 17, 2000
The Company announces that it has granted, subject to all necessary regulatory and shareholder approvals, incentive stock options, in the aggregate of 1,400,000 common shares in the capital stock of the Company, to employees, officers and directors. The options are exercisable on or before May 16th, 2002 at a price of $0.20 per common share. The average closing price of the Company's shares on the Canadian Venture Exchange for the past ten trading days, including to-day, May 16, 2000, was $0.20.
In accordance with CDNX regulations these options will,if granted, be subject to a four month hold period.
On behalf of the Board
Verna Wilson, Director
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.
INTERNATIONAL PBX VENTURES LTD.
Trading Symbol: IVU - Canadian Venture Exchange