International PBX Ventures Ltd.: Closing of $7,320,500 Non-Brokered Private Placement

Abstract

(CCNMatthews - April 23, 2007) - International PBX Ventures Ltd. (the "Company") (TSX VENTURE:PBX) announces that it has closed, in two tranches, a private placement of 14,641,000 units (the Units") at a price of $0.50 per Unit, for total proceeds of $7,320,500. Each Unit consists of one common share of the Company and one non-transferable share purchase warrant (a "Warrant").