FRANKLIN, IN / ACCESSWIRE / January 6, 2025 / IBC Advanced Alloys Corp. is pleased to… (“IBC” or the “Company”) (TSXV:IB)(OTCQB:IAALF) announces that it has entered into amendments (“Amendments”) with Mr. Mark Smith (“Lender”), Chairman and Chief Executive Officer of the Company, to extend the terms of Two existing credit facility agreements (“Existing Loan Agreements”) with the lender mature through June 30, 2025 and certain other revisions to the monthly repayment obligations are set forth in the Company's press releases dated August 19, 2022 and June 19, 2023 and October 3, 2023. Amendments are subject to approval by the TSX Venture Exchange (“TSX-V”).
The Company also entered into an agreement with Mr. Smith granting him certain information rights, registration rights and the right to participate in future financings.
The amendments involve a related party (as defined under Multilateral Instrument 61-101-) Protection of minority security holders in private transactions (“MI 61-101”), specifically a director and senior officer of the Company, constituting related party transactions under MI 61-101. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(b) and 5.7(1)(f) of MI 61-101, as the Company is not listed on the markets identified by Section 5.4(b). of MI 61-101, and the amendments are on commercially reasonable terms and are not convertible into or payable in shares or voting securities of the company.
For more information about IBC and its innovative alloy products, Go here.
On behalf of the Board of Directors:
“Mark A. Smith”
Mark A. Smith, Chairman of the Board of Directors
# # #
communication:
Mark A. Smith, Chairman of the Board of Directors
Jim Sims, Director of Investment and Public Relations
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #copper #copperalloys
About IBC Advanced Alloys Corp.
IBC is a leading manufacturer of advanced alloys serving a variety of industries such as defense, aerospace, automotive, communications, precision manufacturing and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chromium copper, and aluminum bronze. The Company's common shares trade on the TSX-V under the symbol “IB” and on the OTCQB under the symbol “IAALF.”
Cautionary statements regarding forward-looking statements
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and statements are often, but not always, identified by the use of words such as “expect,” “anticipate,” “believe,” “anticipate,” “could,” “estimate,” and “target.” . “intends,” “plans,” “seeks,” “will,” “may,” “should,” and similar expressions or words indicating future results. This press release includes forward-looking information and statements relating to, among other things, the receipt of TSXV approval of the amendments, and the monthly payments to be made under the amendments. Forward-looking statements involve significant known and unknown risks and uncertainties, some of which are beyond the Company's control, including: the risk that the Company will be unable to make sufficient payments to repay its debts, including existing loan agreements, and the impact of general economic conditions in the regions in which the Company or its customers operate; Including semiconductor manufacturing and the 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 applied. They are interpreted as forced, increased competition, unavailability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market fluctuations and required approvals from regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements may differ materially from those expressed in these forward-looking statements. All statements 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 and perception of historical trends, current conditions, expected future developments and other factors that it believes are appropriate in the circumstances.
Please see “Risk Factors” in our Annual Information Form available under our corporate profile at www.sedarplus.ca, for information about 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 they are 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, 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.
source: IBC Advanced Alloys Company
View the original press release on accesswire.com
