FRANKLIN, IN (July 12, 2023) – IBC Advanced Alloys Corp. (TSX-V:IB; OTCQB:IAALF) (“IBC” or the “Company”) a leading beryllium and copper advanced alloys company, announces that it has won a new purchase order for its beryllium-aluminum alloy products from a major aerospace defense contractor. The value of the new orders is approximately $3.1 million, which the Company expects to fulfill in 2023.
“We are very pleased to have received this new purchase order and our team is proud of the work that we are doing to support a variety of defense contractors,” said Mark Smith, IBC’s CEO and Chairman. “We look forward to continuing to grow the defense side of our business.”
On Behalf of the Board of Directors:
Mark Smith, CEO and Chairman
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About IBC Advanced Alloys Corp.
IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC’s Copper Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC’s Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC’s has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company’s common shares are traded on the TSX Venture Exchange under the symbol “IB” and the OTCQB under the symbol “IAALF”.
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 a forward-looking statement regarding the expected fulfillment and revenues associated with the purchase order and the future growth of the defense side of the Company’s business. Although IBC believes that the expectations reflected in this forward-looking statement are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward-looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings at www.sedar.com.