IBC Advanced Alloys Corp (IAALF)

[Middleborder]

Cold Dark Hole. Sorry to hear that!

Received today. They previously set the settlement aside as a "Contingent Liability" so it should not change the balance sheet. (Pretty sure, but do not have time now to review.)


IBC Advanced Alloys Notified of District Court Decision on Arbitration Award

FRANKLIN, IN (April 4, 2019) – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”) a leading beryllium and copper advanced alloys company, has received notice of a decision by the U.S. District Court in the District of Massachusetts affirming a September 9, 2017 arbitration award made in favor of Gerald R. Hoolahan, the former co-owner of Beralcast Corporation, which IBC purchased in 2010. The arbitration award resulted from an alleged breach of contract relating to the sale and totals $1,395,434 plus accrued interest from the date of the arbitration decision.

IBC vigorously disputes the allegations and reserves its right to appeal the District Court decision. As has been disclosed in previous public filings, the Company has already reserved the full amount of the potential award as a contingent liability on its books.

On Behalf of the Board of Directors:

"Mark A. Smith”

Mark A. Smith, Board Chairman