Firebird Global Master Fund II, ltd. and its joint actor disclose their position in IBC Advanced Alloys Corp.
July 11, 2013 (Source: Canada Newswire) — Firebird Global Master Fund II, Ltd. (“FGMF2“) announces that it inadvertently omitted to file an alternative monthly report following its disposition in the month of January 2013 of an aggregate of 2,422,705 common shares held in the share capital of IBC Advanced Alloys Corp. (TSX-V – IB) (the “Issuer“). Said common shares were sold on the TSX Venture Exchange. Out of the 2,422,705 common shares, 2,205,500 common shares were sold on January 10, 2013 at an average price of $0.2256 per share and 217,205 common shares were sold on January 15, 2013 at an average price of $0.2383 per share. Immediately after these dispositions, (i) FGMF2 no longer held any securities of the Issuer and (ii) the aggregate number of securities of the Issuer held by Firebird Global Master Fund, Ltd. (“FGMF“), a joint actor of FGMF2, was 4,405,814 common shares and 463,000 warrants to acquire the same number of common shares in the share capital of the Issuer representing approximately 11.36% of the then outstanding common shares of the Issuer, including the common shares deemed to be acquired pursuant to the exercise of such warrants.
With these dispositions, FGMF2’s and FGMF’s securityholding percentage in the Issuer decreased by 5.65%.
Since the above-mentioned dispositions, (i) 463,000 warrants to acquire the same number of common shares in the share capital of the Issuer held by FGMF have expired without being exercised and (ii) FGMF has sold all of the common shares it held in the share capital of the Issuer on the TSX Venture Exchange at an average price of $0.0477 per share.
FGMF2 reports that currently neither FGMF2 nor FGMF hold any securities in the share capital of the Issuer.
The securities were disposed of for investment purposes.
No other joint actor of FGMF2 currently holds any securities of the Issuer.
This press release is being issued in order to comply with the disclosure requirements under applicable securities legislation. This press release is not an admission that FGMF2 owns or controls any described securities or is a joint actor with anyone else.
SOURCE: FIREBIRD GLOBAL MASTER FUND II, LTD.
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Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>