International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

July 25, 2011 08:00 ET

PBX Announces Exercise of Warrants for Proceeds of $2,845,875

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2011) - International PBX Ventures Ltd. ("PBX" or the "Company") (TSX VENTURE:PBX) is pleased to announce that it has received total proceeds of $2,845,875 from the exercise of 97% of the total 8,546,250 warrants issued pursuant to two private placement offerings that closed August and November 2010. The warrants were exercisable at $0.30 and $0.35 per share and both expired on July 18, 2011. Accordingly, the Company has issued 8,266,250 common shares in exchange for the exercised warrants. The Company has no further warrants outstanding.

The proceeds from the exercise of the warrants will be used for working capital purposes and to fund exploration work on the Company's Copaquire copper molybdenum property located in northern Chile.

About International PBX Ventures Inc.

International PBX Ventures Inc. is a junior exploration Company with a strong portfolio of copper, molybdenum and gold projects in Chile. The 100% owned Copaquire copper molybdenum property is the Company's flagship project and is located in Chile's prolific copper porphyry belt. This arc‐parallel belt includes 30 porphyry Cu‐Mo deposits and prospects with the largest amount of copper concentration in the world, totalling about 220 million tonnes of copper. The Quebrada Blanca and Collahuasi (the third largest copper mine in the world) producers are within 15 kilometres of the property. For more information, please visit the Company's website: www.internationalpbx.com.

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

George Sookochoff, President & CEO

International PBX Ventures Ltd. seeks safe harbor.

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 Inc.
    George Sookochoff
    President & CEO
    (604) 681-7748 or Toll Free: 1-877-681-1154
    (604) 681-0568 (FAX)
    www.internationalpbx.com