Beryllium Copper Alloys by IBC Advanced Alloys

 

IBC Advanced Alloys Corp. Approved to File Final Short Form Prospectus for C$9,000,000 Unit Offering

Published Thursday, March 11, 2010

VANCOUVER, BC -- March 11, 2010 - IBC Advanced Alloys Corp. (TSX.V:IB) ("IBC" or the "Company") announces that it has been given approval by the British Columbia Securities Commission to file a final short-form prospectus (the "Final Prospectus") with securities regulatory authorities in the provinces of British Columbia, Alberta, and Ontario in connection with a best efforts offering of units (the "Units") of IBC (the "Offering") to raise gross proceeds of up to C$9,000,000, subject to a 15% over-allotment option. The Offering is being led by Union Securities Ltd. and Pope & Company Limited (collectively, the "Agents").

Each Unit is priced at C$0.17 and consists of one common share of IBC and one-half of one common share purchase warrant exercisable at C$0.25 (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of IBC for a period of 24 months (subject to acceleration) following the date of closing of the Offering, which is scheduled to occur on or before March 17, 2010. For their services rendered in connection with the Offering, the Agents will receive a cash commission equal to 7% of the gross proceeds raised under the Offering and broker warrants exercisable to acquire that number of units of the Company, having the same terms as the Units, at a price of $0.17 per unit as is equal to 7% of the total number of Units sold under the Offering, at any time until the date which is 24 months after the closing of the Offering.

The net proceeds from the Offering will be used to fund the announced acquisition of Beralcast Corporation, new business development initiatives, further exploration of mineral properties and for general working capital purposes, as described in the Final Prospectus.

The Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy, securities.

About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (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, 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
Website: www.eragonlatrilogia.com

Further information on this financing can be obtained from:

Brock Daem and Jason Bedasse
Institutional Equity Sales
Union Securities Ltd.
1 (416) 777-0600

Grant White
Global Head, Capital Markets
Pope & Company Limited
1 (416) 588-6139