VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2013) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) ("IBC" or the "Company") intends to undertake a brokered private placement of up to 16,666,667 units (the "Units") of IBC at a price of $0.12 per Unit (the "Offering Price") for gross proceeds of up $2,000,000 (the "Offering"). Euro Pacific Canada Inc. has been engaged to act as agent with respect to the Offering.
Each Unit will consist of one common share and one share purchase warrant ("Warrant") with each Warrant having an exercise price of $0.18 and a term of 24 months from the closing date. Insiders of the Company intend to participate in this Offering. The securities to be issued will be subject to a four-month resale restriction. Net proceeds from the Offering will be used for business development initiatives and for general working capital purposes. The Company may elect to close the Offering in more than one tranche.
The Offering will be conducted in reliance upon certain prospectus and registration exemptions. The Corporation will pay, in accordance with TSX Venture Exchange policy, finder's fees of 7% cash and 7% agent's warrants to Euro Pacific Canada Inc. for obtaining subscriptions and a $20,000 work fee. Completion of the Offering is subject to acceptance by the TSX Venture Exchange.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of sectors including aerospace, automotive, telecommunications and a range of industrial applications. IBC has 86 employees and production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: whether the Offering will be completed, whether the TSX-V will approve the Offering and whether the Offering will be used for general business development initiatives or general working capital. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither 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.