ICS Copper Systems Ltd. Announces Completion of C$8,500,000 Initial Public Offering

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Algemeen advies 05/05/2007 10:41
ABBOTSFORD, BRITISH COLUMBIA -- (MARKET WIRE) -- May 04, 2007 -- NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S. NEWSWIRE SERVICES.
A correction is issued with respect to the ICS Copper Systems Ltd. release issued on May 2, 2007 at 8:38pm ET. The fax number for Graham Chisholm was incorrect. The email address has been changed from icscopper@telus.net to graham@icscopper.com. The corrected release follows:

ICS COPPER SYSTEMS LTD. ("ICS") is pleased to announce that it has completed its initial public offering of 10,000,000 Units at a price of $0.85 per Unit, pursuant to its prospectus dated March 30 2007, for aggregate gross proceeds of $8,500,000. Each Unit is comprised of one common share (the "Share") and one-half of one transferable share purchase warrant, each whole warrant entitling the holder to purchase one Share for a period of 24 months after closing at a price of $1.30. As a result of this issuance, the Corporation has 24,434,120 common shares issued and outstanding.

Canaccord Capital Corporation acted as Lead Agent in connection with this initial public offering. The Company has granted the Agent an Overallotment option exercisable for a period of 60 days from closing of the Offering to solicit subscriptions for and purchase up to an additional 1,500,000 Units at the Offering price.

The common shares and warrants of ICS will commence trading on the TSX Venture Exchange under the symbols "ICX" and "ICX.WT" after the final bulletin has been issued by the Exchange.

About ICS Copper Systems Ltd.
The Company aspires to developing into being a major African mining company centered on the copper belt of Democratic Republic of Congo (DRC) and Zambia. It holds an option agreement to acquire up to 80% of the Mokambo Copper mine in Zambia, an option agreement to acquire 76% of the Musoshi Tailings in DRC and an option agreement to acquire 73.5% of a group of four mining concessions in DRC covering 5,366 square kilometres.




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