CEO BOUGHT ALMOST HALF MILLION IN PPmight be the reason for the pop?? maybe he expects more business.
Press Release for Early Warning Report Regarding IBC Advanced Alloys Corp.
FRANKLIN, Ind., June 24, 2021 – Mark A. Smith of 401 Arvin Road, Franklin, Indiana, USA, 46131-1549, today announced that on June 23, 2021,
he acquired ownership and control of 2,248,324 units (the “Units”) of IBC Advanced Alloys Corp. (the “Company”) at a price of C$0.20 per Unit for an aggregate purchase price of C$449,664.80. The Units were acquired by Mr. Smith in connection with the Company’s private placement of 10,270,224 Units at a price of C$0.20 per Unit for gross proceeds to the Company of approximately C$ $2,054,044.80, which closed on June 23, 2021 (the “
Private Placement”). Each Unit consists of one common share of the Company (each, a "
Common Share") and one common share purchase warrant (a "
Warrant"). Each Warrant entitle the holder to acquire one Common Share at a price of C$0.23 until June 23, 2023.
Prior to acquiring the Units, Mr. Smith owned 10,367,590 Common Shares and 50,000 options and Warrants (collectively, the “
Convertible Securities”), with each Convertible Security entitling the holder to purchase one Common Share. The 10,367,590
Common Shares represented 15.65% of the total number of issued and outstanding Common Shares prior to giving effect to the Private Placement. If all of the Convertible Securities held by Mr. Smith were exercised prior to giving effect to the Private Placement, an aggregate of 10,417,590 Common Shares would have been owned by Mr. Smith, representing approximately 15.71% of the Company’s issued and outstanding Common Shares on a partially-diluted basis.
Immediately following the acquisition of the Units and after giving effect to the Private Placement, Mr. Smith owned a total of 12,615,914 Common Shares representing approximately 16.49% of the Company’s issued and outstanding Common Shares and 2,298,324 Convertible Securities.
Assuming exercise of all of the Convertible Securities held by Mr. Smith, an aggregate of 14,914,238 Common Shares would be owned by Mr. Smith, representing approximately 18.92% of the Company’s issued and outstanding Common Shares on a partially-diluted basis. Mr. Smith acquired the Common Shares for investment purposes. Mr. Smith may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of the Company.
The Company’s head office is located at 401 Arvin Road, Franklin, IN, USA, 46131-1549.
To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transaction hereunder, please see the Company’s profile on the SEDAR website
www.sedar.com or contact: