IBC Advanced Alloys Announces Closing of Its Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES

FRANKLIN, IN / ACCESSWIRE / December 30, 2022 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX-V:IB; OTCQB:IAALF) is pleased to announce that it has closed the Company's previously announced non-brokered private placement (the "Offering").

Pursuant to the Offering, the Company issued 11,269,444 units of the Company (the "Units") at a price of C$0.108 per Unit for gross proceeds to the Company of approximately C$1,217,100. Each Unit consisted of one common share of IBC (each, a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company at a price of C$0.135 until December 30, 2024. All of the securities issued pursuant to the Offering are subject to a four-month hold period in accordance with applicable Canadian securities laws.

Proceeds of the Offering will be used for working capital and general corporate purposes.

Lind Global Fund II LP, managed by The Lind Partners, LLC, a New York-based institutional fund manager, led the equity raise for IBC by purchasing 6,944,444 units of the Company for gross proceeds of approximately C$750,000.

"The Lind Partners is pleased to make this additional equity investment in IBC Advanced Alloys, as we see strong growth potential in the multiple specialty alloy markets that IBC supplies," said Jeff Easton, Founder and Managing Director of The Lind Partners. "IBC's recent consolidation and expansion of its Copper Alloys operations, which Lind supported, appears to have been made at the right time, given the increase in order flow they are now experiencing."

"We have greatly valued the continuing investment and partnership that the Lind Partners has provided to IBC on our path to growth and profitability and continued service to our hundreds of customers across the economy and in the U.S. national defense sector," said Mark A. Smith, CEO and Chairman of IBC.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.