VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2012) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) ("IBC" or the "Company") is proposing to undertake a consolidation (the "Consolidation") of its issued and outstanding common shares on the basis of six old common shares for one new common share. The proposed Consolidation was approved by shareholders at a special meeting of the Company held on May 18, 2012 and is subject to the approval of the TSX Venture Exchange ("TSX-V").
The Company currently has 254,428,843 common shares issued and outstanding. After giving effect to the Consolidation, the Company would have approximately 42,404,807 common shares issued and outstanding. The Company does not propose to change its corporate name in conjunction with the Consolidation.
The Company believes the Consolidation will provide it with increased flexibility when negotiating financings and better access to equity markets to raise the capital required by the Company to further develop its manufacturing operations.
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 Consolidation will be completed, whether the TSX-V will approve the Consolidation and whether the Consolidation will provide increased flexibility when negotiating financings and better access to equity markets to raise the capital required by the Company to further develop its manufacturing operations. 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.