INWENTASH ACQUIRES SECURITIES OF IBC ADVANCED ALLOYS CORP.
On April 27, 2011, Sheldon Inwentash acquired ownership of 450,000 common (the "Common Shares") of IBC Advanced Alloys Corp., representing approximately 0.2 per cent of the total issued and outstanding common shares of IBC as of April 27, 2011. As a result of this transaction, Mr. Sheldon Inwentash and his joint actors collectively held, as at April 27, 2011, an aggregate of 18,950,333 common shares of IBC, including the Common Shares, and rights to acquire an additional 3,000,000 common shares of IBC upon the exercise of convertible securities (the "Convertible Securities"). Of these totals, Mr. Inwentash owns 2,806,333 common shares, including the Common Shares, and rights to acquire an additional 1,500,000 common shares upon exercise of certain convertible securities (the "Inwentash Convertible Securities") directly. In the event that the Convertible Securities are fully exercised, the holdings of Mr. Inwentash and his joint actors represents a total of 21,950,833 common shares of IBC, or approximately 11.3% of all issued and outstanding common shares as at April 27, 2011, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
In the event that the Inwentash Convertible Securities are fully exercised, the direct holdings of Mr. Inwentash represents a total of 4,306,333 common shares of IBC, or approximately 2.2% of all issued and outstanding common shares as at April 27, 2011, calculated on a partially diluted basis assuming the exercise of the Inwentash Convertible Securities only.
These transactions were made for investment purposes and Mr. Inwentash and each of its joint actors could increase or decrease their respective investments in IBC depending on market conditions or any other relevant factor.