By Sheri Kasprzak
New York, Jan. 20 - International PBX Ventures Ltd. said it intends to raise up to C$2.2 million in a private placement.
The non-brokered offering includes up to 4 million units at C$0.55 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.65 each for 15 months.
Proceeds will be used for drilling and exploration on the company's properties and for working capital.
Based in Vancouver, B.C., International PBX is a mineral exploration company.
| Issuer: | International PBX Ventures Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.2 million (maximum)
|
| Units: | 4 million (maximum)
|
| Price: | C$0.55
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 15 months
|
| Warrant strike price: | C$0.65
|
| Placement agent: | Non-brokered
|
| Pricing date: | Jan. 20
|
| Stock symbol: | TSX Venture: PBX
|
| Stock price: | C$0.58 at close Jan. 20
|
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