IBC Advanced Alloys Announces Entering Into Sale Leaseback Agreements

FRANKLIN, IN / ACCESSWIRE / April 30, 2024 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX-V:IB)(OTCQB:IAALF) is pleased to announce that certain of the Company's U.S. subsidiaries (the "Subsidiaries") have entered into a purchase contract (the "Purchase Contract") and industrial lease (the "Lease") with Flatbay Properties LLC ("Flatbay"). Upon completion of customary closing conditions, including approval of the TSX Venture Exchange, the Purchase Contract will result in US$3,850,000 in funding for the Company (the "Proceeds"). Following the repayment of the Company's secured term loan with Sallyport Commercial Finance, LLC ("Sallyport"), the Company expects to have approximately US$485,000 of the proceeds for working capital.

Pursuant to the Purchase Contract, Flatbay has agreed to purchase the property located at 401 Arvin Road, Franklin, Indiana 46131 (the "Property") from a Subsidiary. Pursuant to the Lease, Flatbay will lease the Property to the Subsidiary for five years (the "Term"), during which the Subsidiary may re-purchase the Property from Flatbay. The re-purchase price will vary depending on the time of re-purchase, ranging from US$4,100,250 during the first year of the Term to US$3,850,000 at the end of the Term. Lease payments during the Term will range from US$45,850 to US$50,370 per month depending on the debt service coverage ratio of a Subsidiary. The Purchase Contract and Lease are subject to customary terms for similar agreements in the United States manufacturing sector.

The Company has agreed to pay a cash commission equal to 2.5% of the Proceeds to Baycross Capital Group ("Baycross"), an arm's length party to the Company. The Company has previously paid total commissions of US$124,518 to Baycross in connection with the Company's US$3,000,000 term loan with Sallyport and US$1,780,000 term loan with Loeb Term Solutions (together, the "Loans"). The terms of the Loans are described in the Company's press releases dated August 28, 2023 and October 26, 2023, respectively.

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

On Behalf of the Board of Directors:

"Mark Smith"
Mark A. Smith, Chairman

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Contact:

Mark Smith, Chairman and CEO
Jim Sims, Director of Investor and Public Relations
[phone]
Email: [e-mail]
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF

About IBC Advanced Alloys Corp.

IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".