International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

April 15, 2010 12:49 ET

International PBX Ventures Closes First Tranche of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2010) - International PBX Ventures Ltd. (the "Company") (TSX VENTURE:PBX) is pleased to announce that it has closed its first tranche of 5,160,000 units (the "Units") for total proceeds of $1,032,000 of its private placement.

The Company announced its private placement of 7,000,000 Units at a price of $0.20 per Unit announced February 22, 2010.

Management intends to complete the balance of the full financing in the near future on unchanged terms.

Each unit consists of one common share of the Company and one-half of one share purchase warrant. Each whole warrant will entitle the holder to purchase a further common share at a price of $0.30 per share for a period of one year subject to an acceleration event, which shortens the period to 30 days after the Company's stock has traded ten consecutive days at $0.40 or higher.

The Company paid a cash finder's fee of $2,050 in connection with the first tranche of the private placement.

ON BEHALF OF THE BOARD OF DIRECTORS OF INTERNATIONAL PBX VENTURES LTD.

George Sookochoff, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • International PBX Ventures Ltd.
    George Sookochoff
    President & CEO
    (604) 681-7748 or Toll Free: 1-877-681-1154
    (604) 681-0586 (FAX)
    www.internationalpbx.com