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IBC Advanced Alloys Corp. (IB.V)

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  • IBC Proposes to Re-Price Warrants
    GlobeNewswire

    IBC Proposes to Re-Price Warrants

    FRANKLIN, Ind., April 27, 2021 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V:IB; OTCQB:IAALF) (“IBC” or the “Company”) a leading beryllium and copper advanced alloys company, announces that they are submitting an application to the TSX Venture Exchange (the “TSXV”) to amend the exercise price of 19,657,297 previously granted common share purchase warrants (the “Warrants”) issued pursuant to a private placement of 19,893,670 units that closed on May 25, 2016. Subject to TSXV approval, the Company expects to amend the exercise price of the Warrants from C$0.50 to C$0.24 per Warrant (the “Warrant Repricing”). The Warrants are exercisable until May 24, 2021 and, to date, 236,373 of the Warrants have been exercised. As certain directors and officers of the Company own Warrants, the Warrant Repricing constitutes a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of amended Warrants held by insiders nor the consideration paid by such persons upon the exercise of such amended Warrants would exceed 25% of the Company’s market capitalization. In order to comply with TSXV limits on insider participation, it is anticipated that certain other directors and officers of the Company will agree not to exercise some or all of their Warrants following the Warrant Repricing. For more information on IBC and its innovative alloy products, go here. On Behalf of the Board of Directors: "Mark Smith” Mark Smith, CEO and Chairman Contacts:Mark Smith, CEO and ChairmanJim Sims, Director of Investor and Public RelationsIBC Advanced Alloys Corp.+1 (303) 503-6203 Email: jim.sims@ibcadvancedalloys.com Website: www.ibcadvancedalloys.com @IBCAdvanced $IB $IAALF 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 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's has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF". CAUTIONARY STATEMENTSCertain 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 proposed amendment to the exercise price of the Warrants, expectations regarding TSXV approval and the expected participation by certain directors and officers. 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.

  • IBC Wins More Than $1.0 Million in New Business from Raytheon for Beryllium Alloy Parts for the  F/A-18 Super Hornet Aircraft
    GlobeNewswire

    IBC Wins More Than $1.0 Million in New Business from Raytheon for Beryllium Alloy Parts for the F/A-18 Super Hornet Aircraft

    FRANKLIN, Ind., April 08, 2021 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V:IB; OTCQB:IAALF) (“IBC” or the “Company”) a leading beryllium and copper advanced alloys company, is pleased to announced that it has received purchase orders for beryllium alloy parts totaling more than US$1.0 million that are used in Raytheon Technologies‘ (NYSE: RTX) Advanced Targeting Forward Looking Infrared (ATFLIR) system for the U.S. Navy’s F/A-18 Super Hornet aircraft. The purchase orders represent new business for IBC and involve the production of several parts for the ATFLIR system, including the Pitch Gimbal Housing, over the next 18 months. The ATFLIR system is produced by Raytheon’s Intelligence & Space division. More information on the ATFLIR system can be seen here: https://www.raytheon.com/capabilities/products/atflir “We are very pleased to have been chosen by Raytheon to manufacture these high-performance beryllium alloy components for the F/A-18 Super Hornet’s ATFLIR system,” said Mark Smith, IBC’s CEO and Chairman. “The extraordinary cost-effectiveness of IBC’s near-net-shape beryllium-aluminum casting technology continues to attract more business to the Company from both defense and commercial manufacturers. Our team is especially proud to be able to manufacture these strategic components in a manner that strengthens U.S. national defense capabilities and helps to reduce costs to the U.S. Department of Defense.” Mark Smith added. “The IBC team’s relentless focus on performance and manufacturing efficiency continues to drive growth in our mission-critical alloys business, and I am very proud of our team’s ability to serve our current customers with excellence while also winning new business.” For more information on IBC and its innovative alloy products, go here. On Behalf of the Board of Directors:"Mark Smith” Mark Smith, CEO and Chairman Contact:Mark Smith, CEO and ChairmanJim Sims, Director of Investor and Public RelationsIBC Advanced Alloys Corp.+1 (303) 503-6203Email: jim.sims@ibcadvancedalloys.com Website: www.ibcadvancedalloys.com @IBCAdvanced $IB $IAALF #F35 #LockheedMartin 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 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's has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. 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. This disclosure contains a forward-looking statement regarding the prospective revenues associated with the Raytheon purchase orders referenced. Although IBC believes that the expectations reflected in this forward-looking statement are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward-looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings at www.sedar.com.

  • IBC Advanced Alloys Delivers First of New Cost-Effective Beryllium Alloy Part for the F-35 Aircraft
    GlobeNewswire

    IBC Advanced Alloys Delivers First of New Cost-Effective Beryllium Alloy Part for the F-35 Aircraft

    FRANKLIN, Ind., March 23, 2021 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to announce that it has begun delivering to Lockheed Martin (NYSE: LMT) a new beryllium alloy part – the Gimbal Mounting Ring – for the F-35 Lightning II aircraft’s Electro-Optical Targeting System (EOTS). IBC makes the ring using its proprietary investment casting technology, which allows for more efficient and less costly manufacturing of the part than was previously possible. IBC was awarded a contract for the EOTS’ Gimbal Mounting Ring as part of a multi-year contract awarded in December 2020. In addition to the Gimbal Mounting Ring, IBC also was awarded another multi-year contract to produce the Azimuth Gimbal Housing Unit for the EOTS systems, which IBC has manufactured for Lockheed Martin since 2015. The total value of the December purchase order for both parts was approximately US$9.7 million, which represented a 24 percent increase over IBC’s previous three-year purchase order from Lockheed Martin. IBC’s beryllium alloys facility in Wilmington, Mass., where the Gimbal Mounting Ring is manufactured, confirmed that shipment of both the Ring and a second part for the F-35’s EOTS system manufactured IBC – the Gimbal Housing Unit – are now being produced in Wilmington and shipped to Lockheed on schedule. EOTS is the first sensor to combine forward-looking infrared and infrared search and track functionality to provide F-35 pilots with precise air-to-air and air-to-ground targeting capability. For more information on IBC and its innovative alloy products, go here. On Behalf of the Board of Directors:"Mark A. Smith” Mark A. Smith, CEO & Chairman of the Board CONTACTS: Mark A. Smith, Chairman of the BoardJim Sims, Investor and Public RelationsIBC Advanced Alloys Corp. +1 (303) 503-6203Email: jim.sims@ibcadvancedalloys.com Website: www.ibcadvancedalloys.com @IBCAdvanced $IB $IAALF #F35 #Lockheed 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's has production facilities in Indiana, Massachusetts, and Pennsylvania. 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 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. This disclosure contains forward-looking statements. Forward-looking statements normally contain words like ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’ and similar expressions, and within this news release include any statements (express or implied) respecting improving sales volumes and gross margins while lowering our operating costs and increasing efficiencies across the enterprise. Although IBC believes that the expectations reflected in these forward-looking statements are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward-looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statements will materialize, and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings, including its Annual Information Form for the fiscal year ended June 30, 2019, available at www.sedar.com.