VANCOUVER, BC, June 19, 2012. IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) (“IBC” or the “Company”) is pleased to announce that Mr. Mike Jarvis has been appointed as an independent director of the Company. Mr. Jarvis brings extensive financial and management expertise to the board, including considerable operational experience with manufacturing companies.
Mr. Jarvis founded Franklin Power Products, which grew to be a profitable automotive manufacturer with 2,700 employees, in 1983. Based in Indiana, Franklin Power Products had 16 locations in the US and Canada serving domestic and international customers including Ford, International, GM, Chrysler, Nissan, Toyota, MerCruiser and numerous other manufacturers. The company remanufactured gas and diesel engines, transmissions, electrical systems and other components for automotive, large truck, construction and locomotive applications. Mr. Jarvis served as president of Franklin Power Products until its sale to Delco Remy in 1999. He then served as president and manager of Delco Remy’s Powertrain Division until establishing Jarvis Enterprises in 2004. Mr. Jarvis currently oversees Jarvis Enterprises which holds and manages various businesses in sectors including real estate, farming, telecommunications, health and automotive technology.
“We are pleased to welcome Mike Jarvis to the board and are eager for his assistance in developing the scope of our manufacturing and processing initiatives, including cultivating opportunities in the automotive sector,” said Anthony Dutton, President and CEO of IBC Advanced Alloys. “Mike is an established business professional in the Franklin, Indiana area, where our Copper Alloys operations are located, and also an impressive leader with a history of manufacturing expertise and success. We look forward to his involvement and leadership as IBC continues to establish its brand and business.”
“I am very excited to join the board of IBC and contribute to its growth,” said Mr. Jarvis. “IBC is a growing, diversified company with the opportunity to establish itself as a leader in many different industries and sectors. I’m particularly looking forward to being involved with the development of IBC’s automotive initiatives and the potential for supplying high quality and technologically advanced products for these new and exciting markets.”
The Company has granted 400,000 incentive stock options to Mr. Jarvis. The options are exercisable at a price of $0.17 over a period of five years and are subject to customary regulatory approvals.
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 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospectiveberyllium properties in the western US covering approximately 7,640 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” and the OTCQX under the symbol “IAALF”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
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.
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, limited availability of raw materials, 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 activities therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements. 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.