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ICS Copper Systems Ltd Announces CAD$1.1 Million Private Placement
Abbotsford, British Columbia (ots/PRNewswire) - ICS Copper Systems Ltd. (ICX:TSX.V) reports that it has arranged a private placement of 2,750,000 units at a price of CAD$0.40 per Unit for gross proceeds of CAD$1,100,000. Each Unit will consist of one common share and one full warrant entitling the holder to purchase a common share at a price of CAD$0.50 for a period of 24 months after closing. Completion of the placement remains subject to TSX Venture Exchange approval.
Finder's fees will be paid up to 10% of the proceeds in connection with the placement, subject to Exchange approval.
The Company wishes to report that it has signed an "Amendment Agreement" to the "Mining Option and Joint Venture Agreement" for the Mokambo Property, initially signed by the company on August 7th 2006, which effectively allows for the balance of CAD$1,900,000 to be repaid over a longer period of time, with the last payment being due April 30, 2010.
The Company is presently in discussions to increase its equity option position in the Mokambo property from 70% to 90%.
The Company wishes to advise that Mr. Graham Chisholm will be presenting at the Investment Conference in London England "Mining in Zambia & Zimbabwe, The Opportunities, Risk & Rewards" on June 25, 2008 to a host of Mining Analyst and Institutional Investors.
ICS COPPER SYSTEMS LTD.
Signed "Graham Chisholm"
Graham Chisholm, President & CEO
This release includes certain statements that are "forward-looking statements". All statements in this release, other than statements of historical facts that address future exploration, development and production activities, and other circumstances, events and developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results, events and developments may differ materially from those in the forward-looking statements. The occurrence of certain risk factors, the probability of which is unknown, may also affect actual results, events and developments expected by the Company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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ots Originaltext: ICS Copper Systems Ltd
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