• 25.11.2010, 14:02:38
  • /
  • OTE0004

ICS Announces Private Placement of CAD$250,000

Abbotsford, British Columbia, November 25 (ots/PRNewswire) - ICS
Copper Systems Ltd. is pleased to announce that it has arranged a
non-brokered private placement of 3,125,000 (Three Million One
Hundred and Twenty-Five Thousand) units at a price of CAD$0.08 per
unit for gross proceeds of CAD$250,000. Each unit will consist of one
common share and one full warrant entitling the holder to purchase a
common share at a price of CAD$0.10 if exercised within a period of
12 months, CAD$0.15 if exercised within a period of 24 months. No
commission is payable on the private placement.

The warrants are subject to accelerated expiry if common shares
trade at or above CAD$0.20 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 to
pay for mapping and sampling and phase 1 drill exploration costs for
the Excelsior Springs Gold project.

General

ICS has recently acquired a 100% interest in the Excelsior
Springs gold project in Nevada and has completed a 43-101 report on
the property. Excelsior Springs is considered to be an advanced
exploration project. The company completed a mapping and sampling
exploration program in November 2010 and is currently undertaking a
cross section analysis on 53 holes that were previously drilled on
the property. The company will shortly announce the results of the
recent mapping and sampling program as well as provide an exploration
update.

ICS recently sold its EMEW plant in Zambia for 1.5 Million USD
and proceeds of the sale are being received on time. The contract of
sale provides for a balloon payment to be made once the EMEW plant is
installed and operational. ICS's technical committee has being
overseeing the installation in Zambia and report that the
installation is ahead of schedule.

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.

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.

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

Rückfragehinweis:
CONTACT: For further information: Graham Chisholm,
graham@icscopper.com,Office: +1-604-859-3007,Cell: +1-604-302-0746;
Jeannette Durand, jeannette@icscopper.com

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | PRN

Bei Facebook teilen.
Bei X teilen.
Bei LinkedIn teilen.
Bei Xing teilen.
Bei Bluesky teilen

Stichworte

Channel