07 , 2003
ZULEMA PROPERTY AGREEMENT CLOSES
:PRIVATE PLACEMENT CLOSES
The agreement described in the news release dated September
20, 2002 has closed with the issuance of 100,000 common shares
of the company to the vendors. The shares are subject to a
4 month hold which expires July 8, 2003.
The private placement announced January 30 and amended January
31 2003 has also closed with the issuance of 2.4 million common
shares with a 4 month hold period which expires July 8, 2003
and 2.4 million warrants, exercisable into 1 common share,
which expire March 8, 2004.
BY ORDER OF THE BOARD
"Gary Medford, PhD., P.Geo."
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
INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Tel: (604) 681-7748
Fax: (604) 681-0568
Email: [email protected]
Trading Symbol: IVU - Canadian Venture