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IBC Advanced Alloys Announces Pricing of Shares to be Issued in Satisfaction of Debenture Interest Payment Obligations
FRANKLIN, IN / ACCESSWIRE / December 23, 2022 / IBC Advanced Alloys Corp. ("IBC" or the "Company...
About this update from Ibc Advanced Alloys Corp.
[{"type":"text","content":"IBC Advanced Alloys Announces Pricing of Shares to be Issued in Satisfaction of Debenture Interest Payment ObligationsFRANKLIN, IN / ACCESSWIRE / December 23, 2022 / IBC Advanced Alloys Corp. (\"IBC\" or the \"Company\") (TSXV:IB);(OTCQB:IAALF) announces that, further to the Company's press release dated November 30, 2022, the Company will issue a total of 1,186,786 common shares in the capital of the Company (\"Common Shares\") at a deemed price of C$0.1289 per Common Share to holders of 9.50% unsecured debentures due June 6, 2023 (the \"9.50% Debentures\") and 8.25% convertible unsecured debentures due June 6, 2023 (the \"8.25% Debentures\" and together with the 9.50% Debentures, the \"Debentures\"), respectively, in satisfaction of up to an aggregate total of approximately C$152,978.75 interest payable to holders of Debentures on December 31, 2022 (the \"Payment Date\").Further to the short-form prospectus dated May 28, 2018 qualifying the distribution of the Debentures, the price of the Common Shares is based on the volume-weighted average trading price per Common Share for the 20 consecutive trading days on the TSX Venture Exchange (the \"TSXV\") ending on fifth day prior to the Payment Date, being the 20 consecutive trading days from November 28, 2022 to December 23, 2022.The issuance of the Common Shares in lieu of cash is subject to the terms and conditions of the Indentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSXV.For more information on IBC and its innovative alloy products, go here.On Behalf of the Board of Directors:\"Mark Smith\"Mark Smith, CEO & Chairman# # #Contact:Mark A. Smith, CEO & ChairmanJim Sims, Director of Investor and Public Relations+1 (303) 503-6203Email: [email protected]: www.ibcadvancedalloys.com@IBCAdvanced $IB $IAALF #Beryllium #BeralcastAbout 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 ...