International Beryllium Announces Closing of $7 Million Non-Brokered Private Placement
March 28, 2008
March 28, 2008 - Vancouver, BC - International Beryllium Corporation ("IBC" or the "Company") (TSX-V: IB) is pleased to announce that it has closed a non-brokered private placement of 14,000,000 units at a price of $0.50 per unit for gross proceeds of $7,000,000.
Each unit consists of one common share and one-half common share purchase warrant. Each whole common share purchase warrant is exercisable for a period of two years at an exercise price of $0.75.
All securities issued under the private placement will have a four month and one day hold period expiring on July 15, 2008.
The Company has paid to certain finders cash fees of $292,000 and has issued 704,000 warrants to the finders at an exercise price of $0.50.
The net proceeds from the financing will be used to fund planned acquisitions, for working capital and general corporate purposes.
About International Beryllium Corporation
International Beryllium Corp. is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, defence, electronics and automotive. International Beryllium's common shares are traded on the TSX Venture Exchange under the symbol IB.
International Beryllium Corporation
Anthony Dutton, CEO
Telephone: 604.689.1515 ext. 111
This release was prepared by management of IBC which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.