APRIL 14, 2009 – VANCOUVER, BC – IBC ADVANCED ALLOYS CORP. (“IBC” OR THE “Company”) (TSX-V:IB) is pleased to announce that it proposes to raise up to $1,500,000 through the sale of common shares of the Company (the “Shares”) at $0.15 per Share.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the acceptance of the TSX Venture Exchange.
The net proceeds of the offering will be used to source and analyse prospective acquisitions, for working capital and for general corporate purposes.
The offering may close in tranches with the closing of the first tranche of up to $500,000 expected to occur on or before April 17, 2009. All Shares issued under the offering will be subject to a four-month hold period. Subject to regulatory approval, finders’ fees may be paid to certain finders.
Some Insiders of the Company may purchase Shares under the offering.
About IBC Advanced Alloys Corp.
IBC Advanced Alloys Corp. is an integrated manufacturer and distributor of beryllium based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 65 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania and Indiana. Additionally, IBC owns prospective beryllium properties in Brazil and the Western US 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”.
For further information please contact:
Director of Corporate Communications
(604) 685-6263 x.110
Email: [email protected]
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.
To view all past news releases go here.