IBC Advanced Alloys announces closing of non-brokered private placement

IBC Advanced Alloys Corp., a leading beryllium and copper advanced alloys company, has released that it has closed the company’s previously announced non-brokered private placement (the offering).

Pursuant to the offering, the company issued 11,269,444 units of the company at a price of CA$0.108 per unit for gross proceeds to the company of approximately CA$1,217,100. Each unit consisted of one common share of IBC and one common share purchase warrant.  Each warrant entitles the holder to acquire one common share of the company at a price of CA$0.135 until December 30, 2024. All of the securities issued pursuant to the offering are subject to a four-month hold period in accordance with applicable Canadian securities laws.

Proceeds of the offering will be used for working capital and general corporate purposes. (£1.00 = CA$1.63 at time of publication)