March 16, 2007
International PBX Ventures Ltd., subject to regulatory approval, has arranged a private placement of 14 million units to raise $7,000,000 . The unit consists of a common share priced at $0.50 and a warrant to purchase a common share at a price of $0.75 for a period of 2 years. A finder’s fee in accordance with regulatory guidelines may be payable on all or part of the placement.
The proceeds will be used for general working capital purposes and aggressively drilling the company’s properties. There will be a four month hold on the units. The placement is closed to further subscription.
ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.
Gary Medford, Ph.D., P.Geo.
PRESIDENT AND CEO
Office: 604 681 7748
Toll Free: 1 877 681 1154
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.