Press Release for Early Warning Report Regarding IBC Advanced Alloys Corp.
24 December 2019 - 2:16AM
Mark A. Smith of 401 Arvin Road, Franklin, Indiana, USA,
46131-1549, today announced that on December 13, 2019, he acquired
ownership and control of 2,104,540 common shares (the
“
Common Shares”) of IBC Advanced Alloys Corp. (the
“
Company”) at a price of C$0.135 per Common Share
for an aggregate purchase price of C$284,113. The Common Shares
were acquired by Mr. Smith in connection with the Company’s private
placement of 2,104,540 Common Shares at a price of C$0.135 per
Common Share for gross proceeds to the Company of approximately
C$284,113 which closed on December 20, 2019 (the “
Private
Placement”).
Prior to acquiring the Common Shares, Mr. Smith
owned 7,005,460 Common Shares and 1,547,258 options and warrants
(collectively, the “Convertible
Securities”), with each Convertible Security
entitling the holder to purchase one Common Share. The 7,005,460
Common Shares represented 12.24% of the total number of issued and
outstanding Common Shares prior to giving effect to the Private
Placement. If all of the Convertible Securities held by Mr. Smith
were exercised prior to giving effect to the Private Placement, an
aggregate of 8,552,718 Common Shares would have been owned by Mr.
Smith, representing approximately 14.94% of the Company’s issued
and outstanding Common Shares on a partially-diluted
basis.
Immediately following the acquisition of the
Common Shares and after giving effect to the Private Placement, Mr.
Smith owned a total of 9,110,000 Common Shares representing
approximately 15.35% of the Company’s issued and outstanding Common
Shares and 1,547,258 Convertible Securities. Assuming exercise of
all of the Convertible Securities held by Mr. Smith, an aggregate
of 10,657,258 Common Shares would be owned by Mr. Smith,
representing approximately 17.96% of the Company’s issued and
outstanding Common Shares on a partially-diluted basis.
Mr. Smith acquired the Common Shares for
investment purposes. Mr. Smith may from time to time acquire
additional securities, dispose of some or all of the existing or
additional securities or may continue to hold the securities of the
Company.
The Company’s head office is located at 401
Arvin Road, Franklin, IN, USA, 46131-1549.
To obtain a copy of the early warning report
filed under applicable Canadian securities laws in connection with
the transaction hereunder, please see the Company’s profile on the
SEDAR website www.sedar.com or contact:
Mark A. Smith 401 Arvin RoadFranklin, IN,
USA46131-1549 Telephone: 317-738-2558
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