VANCOUVER, BC – February 10, 2009 – International Beryllium Corporation (TSX-V: IB) (“IBC”) is pleased to announce that it has signed a letter of intent (“LOI”) dated February 4, 2009 to acquire, through its subsidiary IBC US Holdings, Inc., all of the shares of a master and specialty alloy manufacturer and processing company (the “Target”). The proposed transaction is a non-arm’s length transaction as Denis Brady, a shareholder of the Target, is also a director of IBC. The transaction is contemplated to be non-dilutive to existing shareholders and there will be no finder’s fee payable. Completion of the proposed transaction is subject to several conditions including customary due diligence and approval by the boards of directors of IBC and the Target; the shareholders of the Target; and the TSX Venture Exchange. There can be no assurance that the transaction will be completed as proposed or at all.
The Target is based in the United States where it manufactures and processes a range of master and casting alloy products, including beryllium copper. Its manufacturing infrastructure and processes are complementary to IBC’s recent acquisitions of Nonferrous Products, Inc. and Freedom Alloys, Inc., and will further integrate IBC’s manufacturing value chain. The Target has a lengthy history of producing a range of master alloys, which can be made to meet a variety of commercial specifications, for both North American and international customers.
“We are very pleased to have signed a letter of intent to acquire this company,” stated Anthony Dutton, President and CEO of IBC. “Its manufacturing capabilities will further enhance IBC’s development as a vertically integrated global beryllium company. It will allow us to improve our manufacturing efficiencies and production levels in order to increase our market presence both in North America and internationally. We are focused on increasing our production levels to better service our customers,” continued Dutton, “and we look forward to integrating this new opportunity with our other manufacturing divisions to continue growing our business as an advanced alloy company”.
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, defense, electronics and automotive. International Beryllium’s common shares are traded on the TSX Venture Exchange under the symbol IB.
For additional information please contact:
International Beryllium Corporation
Anthony Dutton, CEO
(604) 685-6263 ext 111
Email: [email protected]
Website: www.internationalberyllium.com
This news release was prepared by management of IBC, which takes full responsibility for its contents. 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.
Legal Notice Regarding Forward Looking Statements
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: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing operations and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. 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.
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