IBC Advanced Alloys to Issue Shares for Consulting Services
January 28 2014 - 7:50PM
Marketwired
IBC Advanced Alloys to Issue Shares for Consulting Services
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 28, 2014) - IBC
Advanced Alloys Corp. (TSX-VENTURE:IB)(OTCQX:IAALF) ("IBC" or the
"Company") has agreed to settle an obligation of $57,500 owed to an
arms-length consultant by issuing 425,926 common shares based on an
agreed price of $0.135 per common share, being the discounted
market price under TSX Venture Exchange rules. The issuance
represents payment of $30,000 for the second six months of services
provided by the consultant pursuant to a one-year consulting
agreement, settlement of debt of $25,000 in connection with the
same agreement and related taxes on both amounts. The consulting
agreement provides that half of the $10,000 monthly fee, plus
taxes, may be settled with common shares of IBC. The transaction is
subject to TSX Venture Exchange approval.
The common shares to be issued will be subject to a four-month
statutory hold period from the date of issuance. Following this
share issuance, IBC will have a total of 63,279,392 common shares
issued and outstanding.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals
(beryllium) based alloys and related products serving a variety of
industries including nuclear energy, automotive, telecommunications
and a range of industrial applications. IBC has 80 employees and is
headquartered in Vancouver, Canada with production facilities in
Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating
a dynamic global beryllium and advanced alloys company. IBC's
common shares are traded on the TSX Venture Exchange under the
symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which
takes full responsibility for its contents. 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 certain forward-looking statements
that 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 operates, industry conditions, 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. In addition there are risks and
uncertainties associated with manufacturing activities therefore
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.
IBC Advanced Alloys Corp.Ian TootillDirector of Corporate
Communications(604) 685-6263 ext
110itootill@ibcadvancedalloys.comwww.ibcadvancedalloys.comThe
Howard Group Inc.Dave BurwellToll Free: 1-888-221-0915 or (403)
221-0915info@howardgroupinc.com
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