Deal sells units of one share, a half-share warrant at C$0.18 per unit
By Devika Patel
Knoxville, Tenn., March 5 - IBC Advanced Alloys Corp. said it will conduct a C$1.5 million non-brokered private placement of units.
The company will sell 8,333,333 units of one common share and one half-share warrant at C$0.18 per unit.
Each whole, two-year warrant will be exercisable at C$0.24, a 20% premium to the March 4 closing share price of C$0.20.
Settlement is expected March 12.
Proceeds will be used for 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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 8,333,333
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Price: | C$0.18
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.24
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Agent: | Non-brokered
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Pricing date: | March 5
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Settlement date: | March 12
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Stock symbol: | TSX Venture: IB
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Stock price: | C$0.20 at close March 4
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Market capitalization: | C$11.63 million
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