IBC Advanced Alloys Corp. Engages in Sale Leaseback Agreements

IBC Advanced Alloys Corp., a leader in the manufacture of advanced copper alloys, has entered into significant financial agreements through its U.S. subsidiaries. The agreements with Flatbay Properties LLC include a purchase contract and an industrial lease that will have considerable financial implications for IBC. Notably, following the closure of customary conditions and TSX Venture Exchange approval, IBC will secure US$3,850,000 in funding.

The proceeds from the sale are designated primarily for the repayment of the secured term loan from Sallyport Commercial Finance, LLC, leaving IBC with an estimated US$485,000 for working capital. The property involved, located at 401 Arvin Road, Franklin, Indiana, will be leased back to IBC's subsidiary for a period of five years, during which it will have the option to repurchase the property.

In connection to the financial proceedings, IBC has agreed to pay a 2.5% commission to Baycross Capital Group, highlighting a continued business relationship as depicted in their prior loan agreements detailed in the 2023 press releases.