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IBC Advanced Alloys Announces C$1.0 Million Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES FRANKLIN, IN...
About this update from Ibc Advanced Alloys Corp.
[{"type":"text","content":"IBC Advanced Alloys Announces C$1.0 Million Non-Brokered Private PlacementNOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATESFRANKLIN, IN / ACCESSWIRE / December 13, 2022 / IBC Advanced Alloys Corp. (\"IBC\" or the \"Company\") (TSXV:IB)(OTCQB:IAALF) announces that it intends to offer, on a non-brokered private placement basis, up to 9,259,260 units of the Company (the \"Units\") at a price of C$0.108 per Unit for gross proceeds to the Company of up to C$1.0 million (the \"Offering\").Each Unit will consist of one common share of IBC (each, a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$0.135 at any time prior to the date which is two years following completion of the Offering.It is anticipated that the private placement will close on December 14, 2022, and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and other customary conditions.Proceeds of the private placement will be used for working capital and general corporate purposes.The Offering will take place by way of a private placement to qualified investors in such provinces of Canada (except Quebec) as the Company may designate, and otherwise in those jurisdictions where the Offering can lawfully be made, including the United States under applicable private placement exemptions.All of the securities issued pursuant to the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"1933 Act\") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from suc...