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International Beryllium Announces Closing of $7 Million Non-Brokered Private Placement
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
Legal Notice Regarding Forward Looking Statements
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing operations and mineral exploration, therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.