ABBOTSFORD, BC, June 13 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V)
reports that it has completed its non-brokered private placement as previously
announced on May 26th, 2008. The private placement consisted of 2,750,000
units at a price of $0.40 per unit for gross proceeds of $ 1,100,000. Each
Unit is comprised of one common share (a "Share") and one full warrant
entitling the holder to purchase a common share until June 11, 2010 at a price
All securities are subject to a hold period expiring October 12, 2008.
The Company has paid a finders' fee of $100,000 CAD in connection with
The proceeds of the private placement will be used towards option
payments for the Mokambo Mine and 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Graham Chisholm, firstname.lastname@example.org, Office:
(604) 859-3007, Cell: (604) 302-0746; For Investor Relations: Brett Whitelaw,
email@example.com, Tel: (604) 662-8633, Web Page: www.icscopper.com