ICS Secures Private Placement of One Million Units
Abbotsford, Canada (ots/PRNewswire) - ICS Copper Systems Ltd. (ICX: TSX.V) is pleased to announce that it has arranged a non-brokered private placement of 1,000,000 (One Million) units at a price of CDN$0.10 per unit for gross proceeds of CDN$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 CDN$0.12 if exercised within a period of 12 months, CDN$0.15 if exercised within a period of 24 months, CDN$0.20 if exercised within a period of 36 months.
The warrants are subject to accelerated expiry if common shares trade at or above CDN$0.35 in any 20 consecutive trading day periods ending after the date that is four months and a day after the closing.
The private placement is subject to acceptance for filing by the TSX Venture Exchange. All securities to be issued pursuant to the private placement will be subject to a four month hold.
Proceeds of the private placement will be used by the Company for general working capital.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ots Originaltext: ICS Copper Systems Ltd
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