IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp.

December 03, 2009 09:30 ET

IBC Syndicates $8m Short Form Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2009) -


IBC Advanced Alloys Corp. (TSX VENTURE:IB) ("IBC" or the "Company") is pleased to announce that further to its news release of November 30, 2009 announcing an $8 million offering (the "Offering") and filing of a preliminary short form prospectus with regards to the Offering, it has now formed a syndicate of agents. The Offering will be led by Pope & Company Limited with the syndicate including Dundee Securities Corp. and Union Securities Ltd.

A short form prospectus has been filed with the securities regulatory authorities in the Provinces of British Columbia, Alberta, and Ontario in connection with a best efforts offering of units (the "Units") of IBC for gross proceeds of up to $8,000,000, subject to a 15% over-allotment option.

Each Unit will consist of one common share of IBC and one-half of one transferrable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of IBC for a period of 24 months (subject to acceleration) following the date of closing of the Offering. Final pricing and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market and will occur immediately prior to the filing of the final short form prospectus in respect of the Offering.

The net proceeds from the Offering will be used to fund the proposed acquisition of Beralcast Corporation, new business development initiatives, further exploration of mineral properties and for general working capital purposes.

The Offering is subject to certain conditions including, but not limited to, the execution of an agency agreement with the Agents and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

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 industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 59 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB".

Further information on this financing can be obtained from Russell N. Starr or Grant White at the numbers below.

This news release was prepared by management of IBC, which takes full responsibility for its contents.

Legal Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectations and/or claims, as applicable.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that IBC does not execute its business plan; (ii) the inability of IBC to keep pace with market requirements; (iii) IBC's inability to maintain key relationships with suppliers and customers; (iv) IBC not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for IBC's products not developing as expected; (vii) IBC's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; (ix) the inability to effectively market IBC's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IBC's business plans and strategies; and (xi) the inability of IBC to complete the acquisition of Beralcast Corporation. These forward-looking statements are made as of the date of this news release and IBC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although IBC believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate.

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.

Contact Information

  • IBC Advanced Alloys Corp.
    Ian Tootill
    Director of Corporate Communications
    (604) 685-6263 ext 110
    (604) 687-8678 (FAX)
    Pope & Company Limited
    Russell N. Starr
    Head of Institutional Sales and Trading
    (416) 588-6419
    Pope & Company Limited
    Grant White
    Global Head, Capital Markets
    (416) 588-6139