By Devika Patel
Knoxville, Tenn., Feb. 22 - International PBX Ventures Ltd. said it plans a C$1.4 million non-brokered private placement of units.
The company will sell 7 million units of one common share and one half-share warrant at C$0.20 per unit. The whole warrants are exercisable at C$0.30 each for one year.
Proceeds will be used for drilling.
International PBX is a mineral explorer based in Vancouver, B.C.
Issuer: | International PBX Ventures Ltd.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.4 million
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Units: | 7 million
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Price: | C$0.20
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.30
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Agent: | Non-brokered
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Pricing date: | Feb. 22
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Stock symbol: | TSX Venture: PBX
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Stock price: | C$0.20 at close Feb. 18
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Market capitalization: | C$14.7 million
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