International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

June 19, 2009 19:53 ET

PBX Advises of Decision Not to Proceed With Extension of Certain Existing Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2009) - International PBX Ventures Ltd. (TSX VENTURE:PBX) -

Further to its news release of June 4, 2009, International PBX Ventures Ltd. (the "Company" or "PBX") announces that it has reconsidered its decision to extend the term of 1,300,000 previously granted stock options (with expiry dates ranging from May 2010 to September 2010) and will not be extending the term of any previously granted options. All such options will retain their original expiry dates. The Company still intends to proceed with the reduction in the exercise price of 4,350,000 previously granted stock options to $0.10 per common share, as announced on June 4, 2009.

About PBX

International PBX Ventures is a Canadian junior mining and exploration company focused on acquisition and development of molybdenum, copper and gold properties in Chile.

PBX's flagship project is the 100% owned Copaquire moly-rhenium-copper property, a circum-Pacific style porphyry copper-molybdenum open-pittable deposit similar to other Andean porphyry systems in northern Chile.

PBX's shares trade on the TSX Venture Exchange under the symbol PBX.V.

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