Canadian Shells

[Tackler]

COWh CBX Ventures to raise up to $324,000 privately

2005-06-09 18:10 ET - News Release

Mr. Lawrence Talbot reports

$324,000 PRIVATE PLACEMENT AND STOCK OPTION GRANTS

CBX Ventures Inc. has proposed the following transactions:

a non-brokered private placement of up to 2.7 million units at a price of 12 cents per unit, for gross proceeds of $324,000. Each unit will consist of one common share and one warrant. Each warrant will entitle the holder, on exercise, to purchase an additional common share of the company at a price of 22 cents for a period on one year and one day following closing, provided that the warrants may not be exercised until the earlier of the last day of their term or following the company graduating to Tier 2 of the main TSX Venture Exchange board. This private placement will be completed in two tranches. The first tranche will consist of up to one million units where no finder's fees will be paid. The second tranche will consist of up to 1.7 million units where a finder's fee (consisting of cash and/or warrants having the same terms as those in the units) may be payable; and
the granting of 270,000 stock options, under the company's stock option plan, to various consultants of the company, exercisable for a period of five years at an exercise price of 12 cents per share.

The above proposed private placement is subject to acceptance for filing by NEX.

The company continues to search for a suitable acquisition