By Laura Lutz
Des Moines, April 23 - International PBX Ventures Ltd. closed a private placement of units for C$7,320,500.
The company sold 14.641 million units in two tranches for C$0.50 per unit.
Each unit consists of one share and one non-transferable warrant at C$0.75 for two years.
The first tranche included 13.5 million units, including 12 million bought by Sprott Asset Management. The second tranche consisted of 1.141 million units.
Proceeds will be used for working capital and for drilling and exploration.
International PBX is a mineral exploration company based in Vancouver, B.C.
| Issuer: | International PBX Ventures Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$7,320,500
|
| Units: | 14.641 million
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Investor: | Sprott Asset Management (for 12 million)
|
| Settlement date: | April 23
|
| Stock symbol: | TSX Venture: PBX
|
| Stock price: | C$0.76 at close April 23
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
