Proceeds used for business development and general working capital
By Devika Patel
Knoxville, Tenn., Jan. 29 - IBC Advanced Alloys Corp. said on Monday that it will conduct a C$2 million private placement of units in multiple tranches. Insiders intend to participate.
The company will sell 16,666,667 units of one common share and one warrant at C$0.12 per unit.
Each two-year warrant will be exercisable at C$0.18, a 12.5% premium to the Jan. 25 closing share price of C$0.16.
Euro Pacific Canada Inc. is the agent.
Proceeds will be used for business development initiatives and for general working capital purposes.
The manufacturer and distributor of beryllium-based alloys and related products is based in Vancouver, B.C.
| Issuer: | IBC Advanced Alloys Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 16,666,667
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Agent: | Euro Pacific Canada Inc.
|
| Pricing date: | Jan. 28
|
| Stock symbol: | TSX Venture: IB
|
| Stock price: | C$0.16 at close Jan. 25
|
| Market capitalization: | C$5.72 million
|
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