IBC Advanced Alloys Corp (IAALF)

[monocle]

Maybe these warrants will be exercised now.

IBC PROPOSES TO RE-PRICE WARRANTS
FRANKLIN, Ind., April 27, 2021 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V:IB; OTCQB:IAALF) (“ IBC ” or the “ Company ”) a leading beryllium and copper advanced alloys company, announces that they are submitting an application to the TSX Venture Exchange (the “ TSXV ”) to amend the exercise price of 19,657,297 previously granted common share purchase warrants (the “ Warrants ”) issued pursuant to a private placement of 19,893,670 units that closed on May 25, 2016.
Subject to TSXV approval, the Company expects to amend the exercise price of the Warrants from C$0.50 to C$0.24 per Warrant (the “ Warrant Repricing ”). The Warrants are exercisable until May 24, 2021 and, to date, 236,373 of the Warrants have been exercised.

As certain directors and officers of the Company own Warrants, the Warrant Repricing constitutes a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of amended Warrants held by insiders nor the consideration paid by such persons upon the exercise of such amended Warrants would exceed 25% of the Company’s market capitalization.

In order to comply with TSXV limits on insider participation, it is anticipated that certain other directors and officers of the Company will agree not to exercise some or all of their Warrants following the Warrant Repricing.

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

On Behalf of the Board of Directors:

"Mark Smith”

Mark Smith, CEO and Chairman