IBC Advanced Alloys Corp (IAALF)

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IBC Advanced Alloys Provides Litigation Update
FRANKLIN, Ind., Jan. 22, 2020 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces that the United States Court of Appeals for the First Circuit affirmed the judgment of the United States District Court for the District of Massachusetts in the case of Gerald R. Hoolahan v. IBC Advanced Alloys Corp., which found in favor of the petitioner, Mr. Hoolahan.

IBC will continue to evaluate all options available to the Company relating to the requirement to pay the arbitration award of approximately $1.4 million. As has been disclosed in previous public filings, the Company has already reserved the full amount of the potential award as a liability on its books.

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark Smith”

Mark Smith P.E., Esq., Chairman