Deal sold units of one share, a half-share warrant at C$0.10 per unit
By Devika Patel
Knoxville, Tenn., June 18 – IBC Advanced Alloys Corp. said it raised C$150,000 in the second tranche of its C$1.75 million non-brokered private placement of units. The deal priced on May 26 and was increased from C$1 million on May 27. The company raised C$1.6 million on June 10.
The company sold 17.5 million units of one common share and one half-share warrant at C$0.10 per unit. It sold 16 million units in the initial tranche and 1.5 million units in the second tranche.
Each whole, two-year warrant is exercisable at C$0.18, a 50% premium to the May 25 closing share price of C$0.12.
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.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.75 million
|
| Units: | 17.5 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.18
|
| Agent: | Non-brokered
|
| Pricing date: | May 26
|
| Upsized: | May 27
|
| Settlement date: | June 10 (for C$1.6 million), June 18 (for C$150,000)
|
| Stock symbol: | TSX Venture: IB
|
| Stock price: | C$0.12 at close May 25
|
| Market capitalization: | C$9.67 million
|
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