VANCOUVER, BC – February 13, 2009 – International Beryllium Corporation (TSX-V: IB) (“IBC” or the “Company”) reports that it has granted incentive stock options to directors and officers of the Company, as well as to the senior management and certain key employees of IBC and its wholly owned operating subsidiaries, Nonferrous Products, Inc. and Freedom Alloys, Inc., for the purchase of an aggregate of 4,120,000 common shares of the Company at an exercise price of $0.15 each until February 12, 2014. The options are being granted pursuant to the terms of the Company’s stock option plan.
The Company also reports that it intends to reduce the exercise price of 4,344,000 of the existing 5,449,000 incentive stock options that have current exercise prices of between $0.50 and $0.83. This will be done subject to TSX Venture Exchange (the “Exchange”) acceptance, board approval, as well as, in the case of insiders of the Company, the approval of a majority of disinterested shareholders. The Company intends to seek such disinterested shareholder approval in accordance with Exchange policy at the next annual meeting of shareholders. If approved, each of the subject option holders will have the exercise price of their options reduced to $0.15 per share. There will be no change to the expiry date of the options.
About International Beryllium Corporation
International Beryllium Corporation is a global exploration, development and manufacturing company focused on advanced alloys, in particular, beryllium, beryllium oxides and beryllium master alloys. Advanced alloys are used in a broad range of specialized industrial applications such as nuclear power, oil and gas, defense, electronics and automotive. International Beryllium Corporation’s common shares are traded on the TSX Venture Exchange under the symbol IB.
For additional information please contact:
International Beryllium Corporation
Anthony Dutton, CEO
(604) 685-6263 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.