VANCOUVER, BC – December 14, 2009 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) announces that it has extended the closing date of the previously announced acquisition of Beralcast Corporation (the “Acquisition”). The originally scheduled closing date was January 15, 2010, however, IBC and Beralcast have mutually agreed to extend this date to March 1, 2010 to accommodate unforeseen administrative delays in connection with the Acquisition as well as seasonal considerations.
As a result of the extension of the date set for the closing of the Acquisition, the Company has decided to postpone the date originally contemplated for the closing of the proposed offering of units of the Company previously announced in a press release of the Company dated November 30, 2009 (the “Offering’). A new date of January 29, 2010 is now being targeted for the closing of the Offering.
A preliminary prospectus containing important information relating to the securities of the Company being offered for sale pursuant to the Offering has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Pope & Company Limited, 15 Duncan Street, Toronto, Ontario M5H 3P9, Telephone: 416-588-6419, Attention: Russell N. Starr, Head of Institutional Sales & Trading. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Completion of the Offering remains subject to receipt by the Company of all necessary regulatory approvals, including that from the TSX Venture Exchange.
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 60 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil 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”.
For additional information please contact:
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: [email protected]
Website: www.ibcadvancedalloys.com
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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