IBC Announces Appointment of Mark Smith as CEO

FRANKLIN, Ind., July 08, 2020 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to announce that the IBC Board of Directors has appointed Mark Smith, IBC Board Chairman, as Chief Executive Officer (“CEO”) of the Company effective immediately. 

“I am honored to take on this position and I look forward to working even more closely with IBC’s highly talented team as we intensify the effort to unleash the full potential of this unique and strategically important Company and the mission critical alloys products we manufacture,” said Mr. Smith. “IBC achieved net profitability in the calendar second quarter, in spite of impacts from the COVID pandemic, and the team and I are committed to building on that success in the quarters and years ahead.”

Mr. Smith will retain his role as IBC Chairman.

As the Company largest individual shareholder, Mr. Smith has served on the Board of IBC since 2015 and as its Chairman since 2017. He has more than 38 years of experience in the mining, mineral processing, and advanced materials industries. Mr. Smith also serves as CEO and Executive Chairman of NioCorp Developments Ltd. (TSX:NB, OTCQX:NIOBF), which works with IBC through a cooperative development agreement on aluminum-scandium alloys. More information on Mr. Smith can be seen here.

In association with the appointment, the Company granted Mr. Smith options to purchase up to 2,000,000 common shares at an exercise price of $0.15 per share (the “Options”) vesting as follows: 25% on the date of grant; 25% 12 months after the date of grant; 25% 24 months after the date of grant; and 25% 36 months after the date of grant. The options are to expire five years from the date of grant and are to be governed by the terms of the Company’s Stock Option Plan.

To learn more about IBC, please see the Company’s newest video, available here, and visit our website at https://www.ibcadvancedalloys.com

On Behalf of the Board of Directors:

"Simon J. Anderson”

Director

CONTACTS:

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

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".