🕐11.03.10 - 22:06 Uhr
IBC Advanced Alloys Corp. Approved to File Final Short Form Prospectus for C$9,000,000 Unit Offering
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IBC Advanced Alloys Corp.
Approved to File Final Short Form
Prospectus for C$9,000,000 Unit Offering
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VANCOUVER, BC -- March 11, 2010 - IBC Advanced Alloys Corp.
(TSX.V:IB)
("IBC" or the "Company") announces that it has been given approval by
the British Columbia Securities Commission to file a final short-form
prospectus (the "Final Prospectus") with securities regulatory
authorities in the provinces of British Columbia, Alberta, and Ontario
in connection with a best efforts offering of units (the "Units") of
IBC (the "Offering") to raise gross proceeds of up to C$9,000,000,
subject to a 15% over-allotment option.
The Offering is being led by
Union Securities Ltd.
and Pope & Company Limited (collectively, the
"Agents").
Each Unit is priced at C$0.17 and consists of one common share of IBC
and one-half of one common share purchase warrant exercisable at C$0.25
(each whole warrant, a "Warrant").
Each Warrant entitles the holder to
purchase one common share of IBC for a period of 24 months (subject to
acceleration) following the date of closing of the Offering, which is
scheduled to occur on or before March 17, 2010.
For their services
rendered in connection with the Offering, the Agents will receive a
cash commission equal to 7% of the gross proceeds raised under the
Offering and broker warrants exercisable to acquire that number of
units of the Company, having the same terms as the Units, at a price of
$0.17 per unit as is equal to 7% of the total number of Units sold
under the Offering, at any time until the date which is 24 months after
the closing of the Offering.
The net proceeds from the Offering will be used to fund the announced
acquisition of Beralcast Corporation, new business development
initiatives, further exploration of mineral properties and for general
working capital purposes, as described in the Final Prospectus.
The Offering is subject to certain conditions including the receipt of
all necessary approvals, including the approval of the TSX Venture
Exchange and the applicable securities regulatory authorities.
This
press release does not constitute an offer to sell, nor is it a
solicitation of an offer to buy, securities.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals
(beryllium) based alloys and related products serving a variety of
industries including nuclear energy, automotive, telecommunications and
a range of industrial applications.
IBC has 65 employees and is
headquartered in Vancouver, Canada with production facilities in
Pennsylvania, Indiana and Missouri.
Additionally, IBC owns prospective
beryllium properties in the western US and Brazil covering
approximately 9,500 hectares.
IBC is creating a dynamic global
beryllium and advanced alloys company.
IBCs common shares are traded
on the TSX Venture Exchange under the symbol "IB".
For additional information please contact:
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email:
Website: www.ibcadvancedalloys.com
Further information on this financing can be obtained from:
Brock Daem and Jason Bedasse
Institutional Equity Sales
Union Securities Ltd.
1 (416) 777-0600
Grant White
Global Head, Capital Markets
Pope & Company Limited
1 (416) 588-6139
This news release was prepared by management of IBC, which takes full
responsibility for its contents.
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 news release contains "forward-looking statements," as that term
is defined in Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities Exchange
Act of 1934, as amended.
Statements in this news release which are not
purely historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future.
Such forward-looking statements include, among
others, the expectations and/or claims, as applicable., that: (i) IBC
is creating a dynamic global beryllium and advanced alloys company (ii)
IBC is undertaking global growth initiatives, (iii) IBC will acquire
all of the shares of Beralcast.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors.
Such factors include, among others:
(i) the risk that IBC does not execute its business plan; (ii) the
inability of IBC to keep pace with market requirements; (iii) IBCs
inability to maintain key relationships with suppliers and customers;
(iv) IBC not being able to retain key employees; (v) competitors
providing better or cheaper products; (vi) markets for IBCs products
not developing as expected; (vii) IBCs inability to finance its
operations or growth; (viii) inability to obtain all necessary
government and regulatory approvals; (ix) the inability to effectively
market IBCs products, including the establishment of viable
relationships with third parties; (x) fluctuating beryllium prices may
negatively impact IBCs business plans and strategies; (xi) the
inability of IBC to complete the acquisition of Beralcast Corporation;
and (x) the inability of IBC to complete the proposed financing on the
terms outlined above or at all.
These forward-looking statements are
made as of the date of this news release and IBC assumes no obligation
to update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the forward-looking
statements.
Although IBC believes that the beliefs, plans, expectations
and intentions contained in this press release are reasonable, there
can be no assurance those beliefs, plans, expectations, or intentions
will prove to be accurate.
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Copyright (c) 2010 IBC ADVANCED ALLOYS CORP (IB) All rights reserved.
For more information visit our website at
http://www.ibcadvancedalloys.com/ or send
mailto:
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