International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

June 16, 2011 00:20 ET

PBX Announces Acceleration of Warrants Expiry

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2011) - – International PBX Ventures Ltd. (TSX VENTURE:PBX) (the "Company" or "PBX") provides notice to its warrant holders of warrants issued August 27, 2010 and November 30, 2010 that the Acceleration Event has occurred and announces its decision to accelerate the expiry date of its warrants to July 18, 2011 in accordance with the subscription agreements.

Warrants issued August 27, 2010

Pursuant to the certificates governing the warrants issued August 27, 2010, each whole warrant is exercisable to purchase an additional common share at an exercise price of $0.30, provided that, if the common shares of the Issuer are traded on the Exchange at a price of $0.40 or more for 10 consecutive trading days at any time (the "Acceleration Event"), then the warrants will expire on the earlier of the expiry date of August 27, 2011 and 4:30 p.m. (Vancouver time) on the date of July 18, 2011 which is 30 calendar days after the Issuer provides notice (June 16, 2011) to the holders of the Warrants that the Acceleration Event has occurred.

Warrants issued November 30, 2010

Pursuant to the certificates governing the warrants issued November 30, 2010, each whole warrant is exercisable to purchase an additional common share at an exercise price of $0.35, provided that, if the common shares of the Issuer are traded on the Exchange at a price of $0.45 or more for 10 consecutive trading days at any time (the "Acceleration Event"), then the Warrants will expire on the earlier of the expiry date of November 30, 2011 and 4:30 p.m. (Vancouver time) on the date of July 18, 2011 which is 30 calendar days after the Issuer provides notice (June 16, 2011) to the holders of the warrants that the Acceleration Event has occurred.

Warrant holders may exercise their rights to acquire common shares by completing and executing the exercise form (Schedule "A") attached to the warrant certificate before 4:30 p.m. (Vancouver time) on July 18, 2011 and surrendering the Warrant Certificate to #209 – 475 Howe St., Vancouver B.C. V6C 2B3, together with a certified cheque, money order, or bank draft in lawful money of Canada payable to International PBX Ventures Ltd.

About PBX

International PBX is a junior exploration company with a strong portfolio of copper, molybdenum and gold projects in Chile. The company is currently drilling on its flagship 100% owned Copaquire Copper Molybdenum project located in Chile's prolific copper porphyry belt. First drill results are expected to be released in two weeks.

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
    www.internationalpbx.com