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International Beryllium Grants Stock Options and Seeks to Reduce the Exercise Price of Existing Options
The Company also reports that it intends to reduce the exercise price of 4,344,000 of the existing 5,449,000 incentive stock options that have current exercise prices of between $0.50 and $0.83. This will be done subject to TSX Venture Exchange (the "Exchange") acceptance, board approval, as well as, in the case of insiders of the Company, the approval of a majority of disinterested shareholders. The Company intends to seek such disinterested shareholder approval in accordance with Exchange policy at the next annual meeting of shareholders. If approved, each of the subject option holders will have the exercise price of their options reduced to $0.15 per share. There will be no change to the expiry date of the options.
About International Beryllium Corporation
International Beryllium Corporation is a global exploration, development and manufacturing company focused on advanced alloys, in particular, beryllium, beryllium oxides and beryllium master alloys. Advanced alloys are used in a broad range of specialized industrial applications such as nuclear power, oil and gas, defense, electronics and automotive. International Beryllium Corporation's common shares are traded on the TSX Venture Exchange under the symbol IB.
For additional information please contact:
International Beryllium Corporation
Anthony Dutton, CEO
(604) 685-6263 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.