209
- 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
July 14 , 2005
PRIVATE PLACEMENT CLOSED
International PBX Ventures Ltd. (the “Company”) announces that it has closed two tranches of a private placement totalling 2,500,000 units at a price of $0.45 per unit for total proceeds to the Company of $1,125,000. Each unit consists of one common share and one non-transferable share purchase warrant exercisable for a period of eight months at a price of $0.60 per share. The 410,000 shares from the first tranche and any shares issued on the exercise of the Canaccord Capital Corporation’s warrants will be subject to a hold period that will expire on October 24, 2005. The 2,090,000 shares from the second tranche and any shares issued on the exercise of warrants by the rest of the finders noted below will be subject to a hold period that will expire on November 8, 2005.
The warrants expire February 23 and 7 March 7 2006 for the first and second tranches respectively.
The Company paid the following commissions :
- - Canaccord Capital Corporation was paid a cash commission of $11,992.50 and issued 41,000 warrants;
- - Union Securities Ltd. was paid a cash commission of $6,644.63 and issued 22,717 warrants;
- - Bolder Investment Partners, Ltd. was paid a cash commission of $1,755 and issued 6,000 warrants;
- - Wolverton Securities Ltd. was paid a cash commission of $731.25 and issued 2,500 warrants;
- - Rollock Capital Ltd. was paid a cash commission of $1,012.50 and issued 4,500 warrants.
BY ORDER OF THE BOARD
Gary Medford
DIRECTOR
Vancouver office: 604 681 7748
BY ORDER OF THE BOARD
Gary Medford
DIRECTOR
Vancouver office: 604 681 7748
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.
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