ICS Copper Systems Ltd. (ICX:TSX.V) reports that it has arranged a private placement of 2,750,000 units at a price of $0.40 per Unit for gross proceeds of $1,100,000. Each Unit will consist of one common share and one full warrant entitling the holder to purchase a common share at a price of $0.50 for a period of 24 months after closing. Completion of the placement remains subject to TSX Venture Exchange approval.
Finder's fees will be paid up to 10% of the proceeds in connection with the placement, subject to Exchange approval.
Amendment Agreement
The Company wishes to report that it has signed an "Amendment Agreement" to the "Mining Option and Joint Venture Agreement" for the Mokambo Property, initially signed by the company on August 7th 2006, which effectively allows for the balance of $ 1,900,000 to be repaid over a longer period of time, with the last payment being due April 30, 2010.
The Company is presently in discussions to increase its equity option position in the Mokambo property from 70% to 90%.
The Company wishes to advise that Mr. Graham Chisholm will be presenting at the Investment Conference in London England "Mining in Zambia & Zimbabwe, The Opportunities, Risk & Rewards" on June 25, 2008 to a host of Mining Analyst and Institutional Investors. -- www.cnxmarketlink.com
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