VANCOUVER, BC – October 12th, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) (“IBC” or the “Company”) has engaged an internationally recognized high performance autosports materials and metallurgical consultant to assist the Company in developing and implementing a range of business and product development as well as growth initiatives aimed at the competitive autosports market.
Chris Huskamp is currently an Associate Technical Fellow at The Boeing Company in St. Louis where he is involved in developing high performance materials strategies and solutions for a variety of military and commercial aerospace projects. He is also the owner and president at Huskamp Motorsports Engineering where he provides consulting services to Formula One, Grand-Am Daytona Prototypes, IndyCar, ARCA, and Formula 1 PROP boat teams and suppliers including Lotus Renault GP and others. Chris is also a member of the Sports Car Club of America’s Formula/Sports Racer Advisory Committee.
“I am very excited to be involved with IBC and their automotive strategy which I believe holds enormous promise both for the Company and the industry,” said Chris Huskamp. “I have been involved with auto racing for more than two decades and regularly evaluate new technologies focused on performance improvement. I believe,” continued Huskamp, “that IBC’s materials have great potential for the motorsports community, and the automotive market generally, and I am looking forward to working with IBC to develop this opportunity.”
IBC’s ultra-light family of advanced alloys and metal composites could have huge benefits for auto racing and performance automotive applications, particularly those where rotational mass and unsprung weight are critical. The Company’s range of alloys and composites has a consistently high stiffness to weight ratio, as well as other important materials characteristics, which will allow automotive engineers greater design flexibility and more options to achieve significant performance gains.
“We are very pleased to have Chris help guide and develop our automotive strategy,” said Anthony Dutton, President and CEO of IBC Advanced Alloys. “His experience, passion for auto racing and network of high profile relationships will prove to be an enormous asset for IBC. While IBC’s automotive strategy will initially focus on high performance racing,” continued Dutton, “we believe that the Company’s work also holds great promise for the commercial automotive sector which is already adopting ultra-light weight and alternative materials solutions for its current and next generation designs.”
Pursuant to this engagement, IBC has granted 250,000 incentive stock options at an exercise price of $0.19 each until October 5, 2016 pursuant to the terms of the Company’s 2009 stock option plan and which are subject to TSX Venture Exchange policies and approval.
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 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” and the OTCQX under the symbol “IAALF”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
+1 (604) 685-6263 ext. 110
Email: [email protected]
Website: www.ibcadvancedalloys.com
Rubenstein Investor Relations
Tim Clemensen
+1 (212) 843-9337
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.
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.
To view all past news releases go here.
