Intercable ICH Inc.
TSX VENTURE : ICH

Intercable ICH Inc.

May 04, 2007 09:30 ET

Intercable ICH Inc. Announces the Partial Exercise of the Over-Allotment Option

MONTREAL, QUEBEC--(CCNMatthews - May 4, 2007) - Intercable ICH Inc. (Intercable) (TSX VENTURE:ICH) is pleased to announce the closing of the issuance of an additional 1,000,000 units (Units) at a price of $1,00 per Unit for total gross proceeds of $1,000,000, pursuant to the partial exercise of the over-allotment option granted by Intercable to Desjardins Securities Inc. and to Dundee Securities Corporation pursuant to the agency agreement dated March 23, 2007. Each Unit consisting of one common share of the company (Common Share) and one warrant of the company (Warrant). Each Warrant entitles the holder to purchase one Common Share at a price of $1.25 at any time during the period of 18 months following April 4, 2007 and thereafter at a price of $1.50 at any time during an additional period of 18 months. The Units will separate into Common Shares and Warrants immediately upon issue. The additional net proceeds from the offering will be used by Intercable for general working capital.

Desjardins Securities Inc. and Dundee Securities Corporation acted as agent for the distribution. Further to this partial exercise of their over-allotment option, Desjardins Securities Inc. and Dundee Securities Corporation received an additional cash commission of $87,500 and 87,500 additional agent warrants. Each agent warrant entitles the holder to purchase one Common Share at a price of $1.25 at any time during the period of 18 months following April 4, 2007 and thereafter at a price of $1.50 at any time during an additional period of 18 months.

About Intercable

Intercable is a Canadian telecommunications company that seeks broadband telecommunications opportunities in the international market. Intercable's business strategy is to focus on underserved telecommunications and cable markets by building and operating its own broadband networks using state-of-the-art technology capable of offering cable television, high-speed Internet and telephony services, at a low cost and with high service quality. The Company targets markets with i) limited or no cable service; ii) feasibility of aerial cable construction; and iii) stable political environments. Management believes that Reunion Island currently represents the most significant growth opportunity for Intercable.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Intercable's prospectus dated March 23, 2007 or in the filings made by Intercable from time to time with securities regulators. Intercable undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

The TSX Venture Exchange has not reviewed this release and therefore does not accept responsibility for its adequacy or accuracy.

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