VANCOUVER, BC – May 5, 2016 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”) announces that, due to strong demand, the Company has determined to increase the size of the previously announced C$5,500,000 private placement offering (see news release dated April 7, 2016), and will now accept subscriptions for up to C$7,000,000 (the “Private Placement”).
Pursuant to the Private Placement, the Company may issue up to 18,666,666 post-consolidation units (“Units”) at an issue price of C$0.375 per Unit.
Each Unit will consist of one post-Consolidation common share of IBC and one transferable share purchase warrant (“Warrant”). Each Warrant shall be exercisable to acquire an additional post-Consolidation common share of IBC at a price of C$0.50 for a period of five years from the closing date. The Warrants will contain an acceleration provision, whereby in the event IBC trades at C$2.50 or greater for 21 consecutive trading days at any time after the two-year anniversary of the Warrant issuance, Warrant holders will have 60 days within which to exercise their Warrants, failing which the Warrants will expire.
The Consolidation and Private Placement are subject to the approval of the TSX Venture Exchange (“TSX-V“). The securities to be issued will be subject to a four-month-and-one-day resale restriction.
On behalf of the Board of Directors
IBC ADVANCED ALLOYS CORP.
“Duncan Heinz”
David “Duncan” Heinz, MajGen, USMC (ret)
About IBC Advanced Alloys Corp.
IBC is a leading advanced alloys and precision castings company serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 77 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. 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 OTCQB under the symbol “IAALF.”
| IBC Advanced Alloys Corp.
Jim Sims, Investor Relations/Public Relations IBC Advanced Alloys +(303) 503-6203 Email: [email protected] Website: www.ibcadvancedalloys.com |
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications (604) 685-6263 x 110 Email: [email protected] Website: www.ibcadvancedalloys.com |
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