VANCOUVER, BC – May 24th, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) is pleased to announce the appointment of Major General David Heinz as an independent director of the Company effective May 24, 2011.
MajGen Heinz is a highly decorated retired senior U.S. Marine Corp. officer whose most recent military assignment was the as the Program Executive Officer (PEO) for the F-35 Lightning II Program in Arlington, VA. MajGen Heinz has served in the U.S. military, in a variety of senior positions including systems avionics instructor at the U.S. Naval Test Pilot School, Regimental Air Officer to 1st Marine Regiment in Camp Pendleton, Deputy Department Head for the Aviation Weapons Systems Requirements Branch (APW) at Headquarters, Marine Corps and Deputy Director for Operations, National Military Command Center, J-3, Joint Staff, Pentagon.
“I am very excited to be joining IBC’s board and I look forward to providing assistance and guidance where I can,” said MajGen Heinz. “IBC Advanced Alloys, especially their Engineered Materials division, is primed to take advantage of strategic opportunities within the specialty alloys market and I believe there is strong growth potential for new applications within the aerospace and defense industries.”
MajGen Heinz is currently the Vice President of Maritime Systems for iRobot based in Durham, North Carolina. iRobot serves the commercial, government and military markets with leading edge robotic solutions. The Company also performs advanced robotics research, funnelling the resulting technologies into iRobot product lines that cover a variety of mission critical applications. In 2010 iRobot generated approximately $401.0 million in revenue and employed more than 600 of the robot industry’s top professionals, including mechanical, electrical and software engineers and related support staff. iRobot
stock trades on the NASDAQ stock market under the ticker symbol IRBT.
MajGen Heinz graduated from the U.S. Naval Academy in 1978 with a Bachelor of Science Degree in Systems Engineering. He also has a Master of Science degree in Computer Science with a subspecialty in Artificial Intelligence from the Florida Institute of Technology and a Master of Arts degree in National Security and Strategic Studies from the Naval Warfare
College. His decorations include the Defense Superior Service Medal, Legion of Merit, Meritorious Service Medal with Gold Star, Air Medal with bronze numeral 4, Navy Commendation Medal with three gold stars and the Navy Achievement
Medal. He has flown over 3,000 flight hours in 22 T/M/S aircraft.
“We are delighted to welcome Major General Heinz to the IBC team”, stated Anthony Dutton, President and CEO of IBC. “He
brings a profound understanding of military and defense operations, a strong network, and excellent leadership qualities to the Company; all of which are invaluable to IBC as we expand our operations and product distribution, specifically with our Engineered Materials division.”
MajGen Heinz replaces Mr. Lee Rice on the board of directors. The Company thanks Mr. Rice for his service on the board. Mr. Rice will continue to work with the Company on its mineral exploration plans.
The Company has granted 400,000 incentive stock options to MajGen Heinz. The options are exercisable at a price of $0.26 for a period of five years.
About IBC Advanced
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 prospective beryllium properties in 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”.
Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: [email protected]
Email: [email protected]
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, 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.
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