May
13 , 2003
IVU-V UPDATE
Int'l PBX Ventures shares acquired by Prudent Bear Fund
Prudent Bear has acquired control and direction, through Prudent
Bear Fund, a mutual fund controlled by Prudent Bear, over
1.4 million common shares (representing 5.8 per cent of the
outstanding shares) and warrants to purchase an additional
1.4 million common shares of International PBX Ventures Ltd.
of Vancouver, B.C. If such warrants were exercised, Prudent
Bear would have control and direction over 11.0 per cent of
the outstanding shares of the company. Prudent Bear does not
own or have control or direction over any other securities
of the company.
Prudent Bear acquired the shares and warrants for investment
purposes and have filed an early warning report with the British
Columbia and Alberta Securities commissions in respect of
the shares and warrants acquired. Copies of the report may
be obtained from Stockwatch SEDAR files or without charge
from Prudent Bear.
BY ORDER OF THE BOARD
"Gary Medford, PhD., P.Geo."
Director
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy
of this release.
The company relies on forward-looking statement litigation
protection
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INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Toll-Free: 888-999-7748
Tel: (604) 681-7748
Fax: (604) 681-0568
www.internationalpbx.com
Email: [email protected]
Trading Symbol: IVU - Canadian Venture
Exchange
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