IBC Advanced Alloys Announces Extension of Existing Credit Facility

FRANKLIN, IN / ACCESSWIRE / October 4, 2023 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSXV:IB)(OTCQB:IAALF) is pleased to announce that it has entered into an amendment (the "Amendment") with Mr. Mark Smith (the "Lender"), Chairman and Chief Executive Officer of the Company, to extend the maturity date on an existing credit facility agreement (the "Existing Loan Agreement") with the Lender until December 31, 2024. The terms of the Existing Loan Agreement are described in the Company's press release dated June 19, 2023.

The Amendment involves a related party (as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")), specifically a director and senior officer of the Company, and constitutes a related party transaction under MI 61-101. This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(f) of MI 61-101, as the Company is not listed on the markets specified by section 5.4(b) of MI 61-101, and the Amendment is on reasonable commercial terms and not convertible into or repayable in equity or voting securities of the Company.

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark Smith"

Mark Smith P.E., Esq., Chairman

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Contact:

Mark A. Smith, Chairman
Jim Sims, Director of Investor and Public Relations
[phone]
Email: [e-mail]

Website: www.ibcadvancedalloys.com

@IBCAdvanced $IB $IAALF #Beryllium #Beralcast #copper #copperalloys #berylliumcopper

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 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 be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC 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".