May 6, 2009 – VANCOUVER, BC – IBC ADVANCED ALLOYS CORP. (“IBC” or the “Company”) (TSX-V:IB) is pleased to report that it has closed its private placement announced on April 14, 2009. The Company issued an aggregate of 8,333,333 common shares at a price of $0.15 per share for aggregate gross proceeds of $1,250,000 pursuant to this placement.
The Company paid finders’ fees in connection with the financing consisting of $60,000 in cash and issued 500,000 warrants which entitle the holder to purchase one common share at $0.15 for 24 months. All securities issued pursuant to this second closing are subject to a four month and one day hold period.
The net proceeds of the offering will be used to source and analyse prospective acquisitions, for working capital and for general corporate purposes.
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”.
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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