IBC Advanced Alloys (IBC) has announced that it intends to offer, on a non-brokered private placement basis, up to 5,000,000 units of the company at a price of CA$0.20 per unit for gross proceeds to the company of up to CA$1.0 million. There is no minimum offering amount.
Each unit will consist of one common share of IBC and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at a price of C$0.23 at any time prior to the date which is two years following completion of the offering.
It is anticipated that the private placement will close on or before June 18, 2021, and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and other customary conditions. (USA$1.00 = CA$1.21 art time of publication)
