International PBX Ventures Ltd. completes Private Placement of Units
December 31, 2012
VANCOUVER, B.C. – International PBX Ventures Ltd. (“PBX” or the “Company”) (TSX.V:PBX) announced today that, further to the private placement announced on December 10th, it has completed the financing and has received TSX.V approval.
The private placement (the “Unit Private Placement”) was for 10,795,833 units (“Units”) at a price of $0.06 per Unit for gross proceeds of $647,750. Each Unit is comprised of one (1) common share of the Company (the “Common Share”) and one (1) Common Share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one (1) Common Share at an exercise price of $0.07 per Common Share for a period of 12 months following the closing of the Unit Private Placement.
Proceeds will be used for general working capital and to pay for certain costs incurred in connection with the most recent annual meeting of shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
Terry Lynch, CEO
Forward-looking Statements: This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that PBX expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding current and future exploration programs, activities and results. Although PBX 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 may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing, inability to obtain required regulatory or governmental approvals and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements.
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.