May 6, 2009 - VANCOUVER, BC - IBC ADVANCED ALLOYS CORP. ("IBC" or the "Company") (TSX-V:IB) is pleased to report that it has closed its private placement announced on April 14, 2009. The Company issued an aggregate of 8,333,333 common shares at a price of $0.15 per share for aggregate gross proceeds of $1,250,000 pursuant to this placement.
The Company paid finders' fees in connection with the financing consisting of $60,000 in cash and issued 500,000 warrants which entitle the holder to purchase one common share at $0.15 for 24 months. All securities issued pursuant to this second closing are subject to a four month and one day hold period.
The net proceeds of the offering will be used to source and analyse prospective acquisitions, for working capital and for general corporate purposes.
About IBC Advanced Alloys Corp.
IBC Advanced Alloys Corp. is an integrated manufacturer and distributor of beryllium based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 65 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania and Indiana. Additionally, IBC owns prospective beryllium properties in Brazil and the Western US covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC''s common shares are traded on the TSX Venture Exchange under the symbol "IB".
For further information please contact:
Director of Corporate Communications
(604) 685-6263 x.110
This news release was prepared by management if IBC which takes full responsibility for its contents. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.