February 15, 2008 – VANCOUVER, BC – INTERNATIONAL BERYLLIUM CORPORATION (“IBC” or the “Company”) (TSX-V: IB) is pleased to announce that it proposes to raise up to $5,000,000 through the sale of units (consisting of one common share and one-half common share purchase warrant, (the “Units”)) at $0.50 per Unit. The exercise price of the warrants forming part of the Units will be $0.75.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the acceptance of the TSX Venture Exchange.
The net proceeds from the sale of the Offering will be used to fund planned acquisitions, for working capital and general corporate purposes.
The offering is expected to close on or before March 4, 2008. All securities issued in connection with the offering will be subject to a four-month hold period. The Company will pay a cash finder’s fee of 7% of the gross proceeds raised in this private placement and compensation warrants (the “Compensation Warrants”) entitling the finder to purchase a number of common shares as is equal to 7.0% of the aggregate number of Units sold in the private placement. Each Compensation Warrant will entitle the finder to purchase one common share of the Company at an exercise price of $0.75 for a period of 24 months following the closing.
About International Beryllium Corporation
International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, defence, electronics and automotive. IBC’s common shares are traded on the TSX Venture Exchange under the symbol IB.
Anthony G. Dutton, CEO
(604) 689-1515 ext 111
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.
To view all past news releases go here.