- 475 Howe Street
Vancouver, BC Canada V6C 2B3
TEL: (604) 681-7748 • FAX: (604) 681-0568
Canadian Venture Exchange Symbol: PBX
EMAIL: [email protected]
WEB SITE: www.internationalpbx.com
January 5, 2005
NEWS RELEASE: $750,000 PRIVATE PLACEMENT COMPLETED
The company announces that it has completed the non-brokered private placement announced 20 October 2004 and modified on 26 November 2004 for gross proceeds of $750,000. Each unit consisted of one common share at a price of $0.30 and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase a common share at $0.50 until December 21, 2005. All securities are subject to a four month hold period ending April 22, 2005. Finder’s fees totalling $18,625 have been paid in connection with the private placement.
BY ORDER OF THE BOARD
Gary Medford Ph.D. P.Geo.
604 681 7748
Robert A Young and Associates 604 682 5123
Investor Relations 1 877 626 2121
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.