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ICS Copper Systems Ltd. Announces Completion of CDN$1,000,000 Brokered Private Placement
Abbotsford, Canada (ots/PRNewswire) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S. NEWSWIRE SERVICES
ICS COPPER SYSTEMS LTD. ("ICS") announces that it has completed its brokered private placement of CDN$1,000,000 with Canaccord Capital as previously announced on May 17, 2007. Units were issued at a price of CDN$1.00 per Unit, for aggregate gross proceeds of CDN$1,000,000. Each Unit is comprised of one common share (a "Share") and one-half of one transferable share purchase warrant, each whole warrant entitling the holder to purchase one Share until June 8, 2009, at a price of CDN$1.50.
All securities are subject to a hold period expiring October 9, 2007.
About ICS Copper Systems Ltd.
The Company aspires to developing into being a major African mining company centered on the copper belt of Democratic Republic of Congo (DRC) and Zambia. It holds an option agreement to acquire up to 80% of the Mokambo Copper mine in Zambia, an option agreement to acquire 76% of the Musoshi Tailings in DRC and an option agreement to acquire 73.5% of a group of 4 mining concessions in DRC covering 5,366 square kilometres, plus Joint Venture Agreements in which the Company holds a 77% equity interest in 3 mining properties in DRC covering 96 sq. kms.
The directors and officers of the Corporation are:
Graham A. Chisholm, A.C.I.S., President, CEO and Director
David Makepeace, M.Eng., P.Eng, Director
Fred Sveinson, B.Sc. B.A., P.Eng, Director
Douglas B. Whitelaw, Director
Michael Halvorson, Director
David Fynn, C.A. CFO
Mel Smale, Chairman
Jeannette Durand, Corporate Secretary
ON BEHALF OF THE BOARD OF DIRECTORS
"Graham A. Chisholm"
Graham A. Chisholm
President and CEO
No. 202 - 2526 Yale Court Rd., Abbotford, British Columbia,
Canada, V2S 8G9
Telephone: 604-859-3007 Fax: 604-859-3008
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or 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 or developments may differ materially from those in the forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
ots Originaltext: ICS Copper Systems Ltd
Im Internet recherchierbar: http://www.presseportal.ch
For further information: Further information about the Company can be
found on the website (http://www.icscopper.com) and SEDAR
(www.sedar.com) or by contacting V.P. of Public Relations Mr. Brett
Whitelaw at +1-(604)-662-8633 (ICX.)