How to do a PPSprott takes 82% of the PP:
"International PBX Ventures Ltd. has closed, in two tranches, a private placement of 14,641,000 units at a price of 50 cents per unit, for total proceeds of $7,320,500. Each unit consists of one common share of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase a further common share at a price of 75 cents per share for a period of two years. The first tranche consists of 13.5 million Units, 12 million of which were purchased by Sprott Asset Management Inc. of Toronto. All of the shares and any shares issued on the exercise of warrants by the placees in the first tranche will be subject to a hold period that will expire on Aug. 4, 2007. The second tranche consists of 1,141,000 units. All of the shares and any shares issued on exercise of the warrants by the placees in the second tranche will be subject to a hold period expiring Aug. 19, 2007."