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PRESS
RELEASE 10-08
ICS
ANNOUNCES PRIVATE PLACEMENT OF CAD $250,000
November
25th 2010-Abbotsford, British Columbia, Canada - ICS Copper
Systems Ltd. (ICX: TSX.V)
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 $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 $0.10 if exercised
within a period of 12 months, $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 $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
For further
information please contact:
Graham
Chisholm graham@icscopper.comOffice:
(604) 859-3007; Cell:
(604) 302-0746
Jeannette
Durand jeannette@icscopper.com
Web Page:
www.icscopper.com
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