PBX PowerBand Solutions Inc

Shareholders of International PBX Ventures Ltd. (TSX VENTURE:PBX) overwhelmingly
elected the slate of directors nominated by Terry Lynch, PBX's former president,
at the company's annual meeting today. 


The vote was approximately two-to-one in favour of Mr. Lynch's slate of
highly-qualified and experienced nominees.


"We are thrilled to have such a decisive mandate for change at PBX," Mr. Lynch
said. "The vote shows how passionate our shareholders are about the value of our
assets, and how strongly they felt about the previous management's poor record
in executing a coherent business plan." The new board has re-appointed Mr. Lynch
as president and chief executive officer. 


Mr. Lynch added: "Investors clearly did not trust the previous management team
to actually see the end of Oz Mineral's option to buy 90% of our flagship
Copaquire copper and molybdenum mine in Chile for $90 million. Hence our market
capitalization has languished at less than $8 million. 


"We are confident we can demonstrate that we have the resources to move the
company forward benefiting from Oz Minerals' drilling program that will start
this quarter, and from developing three additional large-scale Chilean
exploration plays in Palo Negro, Tierra Del Orro and Sierra Pintada."


Mr. Lynch expressed special gratitude to PBX's largest shareholders, notably
Jintian Copper, China's largest copper trading company, and to PBX's chairman,
Ian Pirie, for their support and advocacy.


"Victory was possible only with our shareholders' generous and passionate
support. We could not have achieved this opportunity for renewal at PBX without
all of you. My pledge is to capitalize on that support by unlocking the true
value of PBX and putting the company back on a solid financial footing." 


The new board includes Mr. Lynch, Mr. Pirie, Mr. Peter Kent, Mr. Dan Gosselin
and Mr. Zhangliang Lou, representing Jintian. "We look forward to quickly
getting to work and restoring market confidence in PBX," Mr. Lynch said. 


About International PBX Ventures Ltd.

International PBX Ventures Ltd. engages in the acquisition, exploration and
development of mineral properties in Chile. We explore for copper, molybdenum
and gold deposits, and own a 100% interest in eight properties covering a total
area of 25,000 hectares.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kingsdale Communications Inc.
Bernard Simon
Vice-President
416 867 2304
bsimon@kingsdalecommunications.com

Grafico Azioni PowerBand Solutions (TSXV:PBX)
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Da Ott 2024 a Nov 2024

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