IBC Advanced Alloys Completes Share Consolidation
May 23, 2016 (Source) — Share Consolidation is Part of a Major Capital and Corporate Restructuring
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQB:IAALF) (“IBC” or the “Company“), a leading beryllium, advanced alloys and precision castings company, has completed a 1-for-10 share consolidation of its issued and outstanding common shares. Effective May 24, 2016 at market opening, the Company’s common shares will commence trading on a post-consolidation basis. The Company’s name and trading symbol will remain unchanged.
The IBC share consolidation is part of a major corporate and capital reorganization of the Company. The reorganization includes a non-brokered private placement capital raise which, upon closing, is designed to boost production capacity and revenue from its Copper Alloys and Engineered Materials divisions and certain changes to the Company’s management.
As a result of the consolidation, the Company’s currently outstanding 98,085,813 common shares have been reduced to approximately 9,808,492 common shares after rounding adjustments. No fractional shares have been issued. The Company is in the process of closing the previously announced private placement and will confirm the closing shortly.
Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Trust Company of Canada. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates representing pre-consolidation common shares for new share certificates representing post-consolidation common shares. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the consolidation.
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On behalf of the board of directors,
IBC ADVANCED ALLOYS CORP.
David “Duncan” Heinz, MajGen, USMC (ret)
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”.
@IBCAdvanced $IB $IAALF #Beryllium #Beralcast #ATFLIR #F35
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.
This release does not constitute an offer to sell or a solicitation of an offer to buy of any of the Company’s securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom.
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