14:00 | 30.09.2009
ICS Secures Private Placement of One Million Units
ABBOTSFORD, Canada, September 30 /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.
For further information: Graham Chisholm, graham@icscopper.com,
Office: +1-604-859-3007, Cell: +1-604-302-0746; Jeannette Durand,
jeannette@icscopper.com; Web Page: http://www.icscopper.com
ICS Copper Systems Ltd.
For further information: Graham Chisholm, graham@icscopper.com, Office: +1-604-859-3007, Cell: +1-604-302-0746; Jeannette Durand, jeannette@icscopper.com
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