IBC Advanced Alloys Corp (IAALF)

[bernice]

IBC Advanced Alloys boosts financing to $1.75-million


IBC Advanced Alloys boosts financing to $1.75-million



2017-06-15 06:56 ET - News Release


Mr. Jim Sims reports

IBC ADVANCED ALLOYS ANNOUNCES UPSIZING OF PRIVATE PLACEMENT TO C$1.75 MILLION

IBC Advanced Alloys Corp. has increased the maximum amount of the financing that was previously announced on June 7, 2017, from $1,687,500 to $1.75-million, with a 25-per-cent oversubscription option. All other terms of the private placement will remain the same, with each unit being offered at an issue price of 37.5 cents.

The private placement is subject to the approval of the TSX Venture Exchange and the securities to be issued will be subject to a four-month-and-one-day resale restriction under Canadian law.

About IBC Advanced Alloys Corp.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defence, 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 defence, aerospace and other systems, including the F-35 joint strike fighter. IBC has production facilities in Indiana, Massachusetts, Pennsylvania and Missouri.

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