International PBX Ventures Ltd.
TSX VENTURE : PBX

International PBX Ventures Ltd.

June 04, 2009 18:15 ET

PBX Announces Grant of Options and Re-Pricing and Extension of Certain Existing Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2009) - International PBX Ventures Ltd. (the "Company" or "PBX") (TSX VENTURE:PBX) announces that it has granted 1,700,000 stock options to directors and officers for a 5 year term, at an exercise price of $0.10 per common share.

PBX announces that it also intends to reduce the exercise price of 4,350,000 previously granted stock options (with exercise prices ranging from $0.25 to $0.70) to $0.10 per common share. This re-pricing is subject to TSX Venture Exchange acceptance, and in the case of options granted to insiders of the Company, disinterested shareholder approval in accordance with the policies of the Exchange.

PBX announces that it also intends to extend the term of certain previously granted stock options. The expiry date of 1,300,000 previously granted stock options (with expiry dates ranging from May 2010 to September 2010) will be extended to September 25, 2014. These term extensions are subject to TSX Venture Exchange acceptance, and in the case of options granted to insiders of the Company, disinterested shareholder approval in accordance with the policies of the Exchange. PBX will seek the required shareholder approvals at its next annual general meeting of shareholders expected to be held in September 2009.

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