Beryllium Copper Alloys by IBC Advanced Alloys

 

IBC Advanced Alloys Announces Convertible Note Financing

Published Friday, November 13, 2009

VANCOUVER, BC - November 13th, 2009 - IBC Advanced Alloys Corp. (TSX-V: IB) ("IBC" or the "Company") announces that it intends to borrow $250,000 (the "Loan") from Firebird Global Master Fund Ltd. ("Firebird"), an insider of the Company, by way of a convertible unsecured promissory note to be used for working capital and general corporate development purposes.

The Loan is convertible, at the option of Firebird, into units comprising one common share (the "Conversion Shares") and one full warrant (the "Conversion Warrants"), for an aggregate of 1,612,903 units of the Company based on the closing price of the Company's shares on November 12, 2009. If Firebird elects to convert the Loan before the Company completes a financing of at least $2,000,000, or if the Company does not close such financing, the conversion price will be $0.14 per unit. If the financing closes, the Loan will automatically convert into units at a 20% discount to the offering price of the financing (the "Discount Conversion Price").

The Loan bears interest at 10% per year, and has a four-month maturity date subject to acceleration in the event that the Company completes a financing for a minimum amount of $2,000,000. Firebird has the option to convert accrued interest into common shares (the "Interest Shares") at a rate of $0.14 per share.

Firebird and Firebird Global Master Fund II Ltd., through their respective management companies, beneficially own an aggregate of 37,724,198 shares representing 32.6% of the Company's current issued and outstanding common shares. Upon conversion of the Loan at the Discount Conversion Price and assuming no Interest Shares are issued and no Conversion Warrants are exercised, the 1,612,903 Conversion Shares and 37,724,198 common shares will represent 33.5% of the Company's then issued and outstanding common shares.

The Loan to the Company is to be undertaken for investment purposes only, and Firebird may increase and decrease its shareholdings in the Company as circumstances may arise. Finalization of the convertible unsecured promissory note is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the acceptance of IBC's board of directors and the TSX Venture Exchange

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 59 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil 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 additional information please contact:
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110

Email: itootill@eragonlatrilogia.com