International PBX Ventures Ltd.

International PBX Ventures Ltd.

January 20, 2006 17:26 ET

International PBX Ventures Ltd.: $1.8 Million Non-Brokered Private Placement at $0.45 Closed; New $2.2 Million Non-Brokered Private Placement Announced

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 20, 2006) - International PBX Ventures Ltd. (TSX VENTURE:PBX) -

The company announces that, subject to regulatory approval, it is arranging a non-brokered private placement of up to 4,000,000 units at a price of $0.55 per unit for total proceeds of up to $2.2 million. Each unit will consist of one common share of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase a further common share at a price of $0.65 for a period of 15 months. The proceeds of the private placement will be used for general working capital purposes and for drilling and exploration of the company's properties. There will be a four month hold on the units.

A finder's fee may be payable on a portion of the placement consisting of 8 per cent cash and 10 per cent broker's warrants at $0.65, in accordance with regulatory policies.

The private placement announced January 9th has been closed for subscription.


Gary Medford, Ph.D., P.Geo., President and CEO

The company relies on "forward-looking" statement litigation protection.

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

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