IBC Advanced Alloys Corp. (“
IBC” or the
“
Company”) (
TSX-V: IB; OTCQB:
IAALF) announces that, in accordance with the terms of a
debenture indenture entered into between the Company and
Computershare Trust Company of Canada
(“
Computershare”) dated June 6, 2018, as
supplemented (the “
Debenture Indenture”) and the
terms of a convertible debenture indenture entered into between the
Company and Computershare dated June 6, 2018, as supplemented (the
“
Convertible Debenture Indenture” and together
with the Debenture Indenture, the “
Indentures”),
it has elected to issue common shares in the capital of the Company
(“
Common Shares”) to holders of 9.50% unsecured
debentures due June 6, 2023 (the “
9.50%
Debentures”) and 8.25% convertible unsecured debentures
due June 6, 2023 (the “
8.25% Debentures” and
together with the 9.50% Debentures, the
“
Debentures”), respectively, in satisfaction of up
to an aggregate total of approximately C$153,828.63 interest
payable to holders of Debentures on December 31, 2021 (the
“
Payment Date”), assuming no further conversions
of 8.25% Debentures.
Further to the short-form prospectus dated May 28,
2018 qualifying the distribution of the Debentures, the price of
the Common Shares will be based on the volume-weighted average
trading price per Common Share for the 20 consecutive trading days
on the TSX Venture Exchange (the “TSXV”) ending on
fifth trading day prior to the Payment Date, being the 20
consecutive trading days from November 23, 2021 to December 21,
2021, provided that such price is not less than the closing market
price on December 21, 2021.
The issuance of the Common Shares in lieu of cash
is subject to the terms and conditions of the Indentures as well as
the receipt of all requisite approvals, including, without
limitation, the approval of the TSXV.
For more information on IBC and its innovative
alloy products, go here.
On Behalf of the Board of Directors:
"Mark Smith”
Mark Smith, CEO & Chairman
Contact:
Mark A. Smith, CEO & ChairmanJim Sims, Director
of Investor and Public Relations+1 (303) 503-6203Email:
jsims@policycom.comWebsite: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #Beryllium #Beralcast
About IBC Advanced Alloys
Corp.
IBC is a leading beryllium and copper advanced
alloys company serving a variety of industries such as defense,
aerospace, automotive, telecommunications, precision manufacturing,
and others. IBC's Copper Alloys Division manufactures and
distributes a variety of copper alloys as castings and forgings,
including beryllium copper, chrome copper, and aluminum bronze.
IBC's Engineered Materials Division makes the Beralcast® family of
alloys, which can be precision cast and are used in an increasing
number of defense, aerospace, and other systems, including the F-35
Joint Strike Fighter. IBC has production facilities in Indiana and
Massachusetts. The Company's common shares are traded on the TSX
Venture Exchange under the symbol "IB" and the OTCQB under the
symbol "IAALF".
Cautionary Statements
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy of this news release.
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.
Certain information contained in this news release
may be forward-looking information or forward-looking statements as
defined under applicable securities laws. Forward-looking
information and forward-looking statements are often, but not
always identified by the use of words such as "expect",
"anticipate", "believe", "foresee", "could", "estimate", "goal",
"intend", "plan", "seek", "will", "may" and "should" and similar
expressions or words suggesting future outcomes. This news release
includes forward-looking information and statements pertaining to,
among other things, the price of the Common Shares to be issued in
lieu of cash. Forward-looking statements involve substantial known
and unknown risks and uncertainties, certain of which are beyond
the Company's control including: the impact of general economic
conditions in the areas in which the Company or its customers
operate, including the semiconductor manufacturing and oil and gas
industries, risks associated with manufacturing activities, changes
in laws and regulations including the adoption of new environmental
laws and regulations and changes in how they are interpreted and
enforced, increased competition, the lack of availability of
qualified personnel or management, limited availability of raw
materials, fluctuations in commodity prices, foreign exchange or
interest rates, stock market volatility and obtaining required
approvals of regulatory authorities. As a result of these risks and
uncertainties, the Company's future results, performance or
achievements could differ materially from those expressed in these
forward-looking statements. All statements included in this press
release that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the
future are forward-looking statements. These statements are based
on assumptions made by the Company based on its experience,
perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances.
Please see “Risks Factors” in our Annual
Information Form available under the Company’s profile at
www.sedar.com, for information on the risks and uncertainties
associated with our business. Readers should not place undue
reliance on forward-looking information and statements, which speak
only as of the date made. The forward-looking information and
statements contained in this release represent our expectations as
of the date of this release. We disclaim any intention or
obligation or undertaking to update or revise any forward-looking
information or statements whether as a result of new information,
future events or otherwise, except as required under applicable
securities laws.
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