VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 7, 2013) -IBC Advanced Alloys Corp.(TSX VENTURE:IB)(OTCQX:IAALF) ("IBC" or the "Company") has implemented a short-term warrant incentive program to encourage warrant holders to exercise their outstanding warrants. As a part of the incentive program, the exercise prices of 5,164,352 warrants will be reduced to $0.14 from February 8, 2013 to March 8, 2013. These warrants were granted in conjunction with financings in June and October 2011 and are otherwise exercisable at $1.50 after adjusting for the Company's recent share consolidation. In addition, warrant holders who take advantage of this incentive program will receive an additional half-warrant, with each full warrant (an "Incentive Warrant") exercisable at $0.27 for a term that expires on the expiry date of their original warrants.
The warrant incentive program is minimally dilutive to current shareholders; upon conclusion of the warrant incentive program, the maximum number of shares issuable by the Company on a fully diluted basis will increase by 2,582,176 as a result of the Incentive Warrants. Warrant holders who opt to not exercise their re-priced warrants may be offered a cash sale option for their re-priced warrants, receiving $0.01 for every two re-priced warrants.
At the close of business on March 8, 2013, unexercised warrants will revert to their original terms. In accordance with the rules of the TSX Venture Exchange, the Company is not able to offer this warrant incentive program to holders of broker or finder warrants. This warrant incentive program is subject to TSX Venture Exchange approval.
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 sectors including aerospace, automotive, telecommunications and a range of industrial applications. IBC has 86 employees and production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global 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".
Further information on the cash sale option for re-priced warrants may be obtained from:
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.