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PBX Announces Private Placement |
October 26, 2010
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2010) - International PBX Ventures Ltd. (the "Company") (TSX VENTURE:PBX) announces that, subject to TSX Venture Exchange approval, it will raise $2,500,000 by way of a non-brokered private placement of ten million units at a price of $0.25 per unit. Each unit will consist of one common share and one-half of a warrant. One whole warrant entitles the holder to purchase one additional share at $0.35 per share for one year from the closing date of the private placement. The warrants are subject to an acceleration clause which is triggered when the Company's shares trade at $0.45 or more for ten consecutive trading days. Upon the occurrence of such event, the Company reserves the right, at its discretion, to demand exercise of the warrants within a specified period of time, barring which the warrants will expire. The Company may pay finder
http://www.marketwire.com/mw/release.do?id=1341875&sourceType=3
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