IBC Advanced Alloys Corp.
TSX VENTURE : IB

IBC Advanced Alloys Corp.

June 05, 2008 14:32 ET

International Beryllium Signs Letter of Intent to Acquire Second Beryllium Metalworking and Specialty Alloy Processor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2008) - International Beryllium Corporation (TSX VENTURE:IB) ("IB") is pleased to announce that it has signed a letter of intent to acquire all of the shares of a second beryllium product manufacturer and specialty alloy processing company in an arm's length transaction. A finder's fee may be payable to an arm's length party, with the terms currently under negotiation.

Completion of the proposed transaction is subject to several conditions including customary due diligence and approval by the boards of directors of IB and the target company; shareholders of the target company; and the TSX Venture Exchange. There can be no assurance that the necessary approvals will be obtained or that the transaction will be completed as proposed or at all.

The acquisition target is based in the United States where it manufactures and processes a range of beryllium copper products and other special alloys. Its manufacturing infrastructure and processes are complementary to IB's recent acquisition, Freedom Alloys, Inc., and will further integrate IB's manufacturing value chain. The acquisition target has an established North American and international customer base serviced via direct sales channels and independent distributors.

"We are very pleased to have signed a letter of intent to acquire this company," stated Anthony Dutton, President and CEO of IB. "Their technology and manufacturing capabilities will further enhance IB's development of a vertically integrated global beryllium company allowing us to improve our manufacturing efficiencies and increase our market presence both in North America and internationally. We are very interested," continued Dutton, "in their industrial components division, particularly in their oil and gas applications, and look forward to working closely with them to grow this business."

About International Beryllium Corporation

International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, oil and gas, defence, electronics and automotive. International Beryllium's common shares are traded on the TSX Venture Exchange under the symbol IB.

This news release was prepared by management of IB, 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, that: (i) IB will grow into a strong vertically integrated international beryllium company (ii) IB is looking forward to a successful integration and growth in market share and shareholder value for IB; and (iii) IB plans to pursue of additional downstream acquisition opportunities and expand its manufacturing and marketing footprint in both North American and international markets.

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 IB does not execute its business plan; (ii) the inability of IB to keep pace with market requirements; (iii) the Company's inability to maintain key relationships with suppliers and customers; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market the Company's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IB's business plans and strategies. These forward-looking statements are made as of the date of this news release and the Company 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 the Company 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information