IBC Advanced Alloys Issues Share-Based Compensation and Consideration Shares

IBC Advanced Alloys Corp. (TSX-V:IB)(OTCQB:IAALF) announced the issuance of common shares to its directors and for credit facility guarantees. The company issued 1,714,284 common shares as compensation for directors' services from July 2023 to June 2024. Additionally, 4,982,000 shares were issued to Mark Smith for guaranteeing amounts under credit facilities with Iron Horse Credit, LLC and Sallyport Commercial Finance, LLC. The shares are subject to a four-month and one-day hold period.

The TSX Venture Exchange approved the issuance on July 10, 2024. Mark Smith, Geoffrey Hampson, Simon Anderson, and Michael Jarvis now hold about 26% of the outstanding shares. Each issuance was a "related party transaction" under Multilateral Instrument 61-101, with exemptions based on the transaction's fair market value not exceeding 25% of the company's market capitalization.

Mark Smith acquired 5,410,571 shares, bringing his total to 22,474,809 shares, or 19.81% of the outstanding shares. The shares were acquired for investment purposes, with Smith retaining the option to buy more or sell existing shares.