IBC Advanced Alloys CEO to Update Investors and the Public Via a Live Webcast and Conference Call on Wednesday, Sept. 21, 2016 at 10 a.m. Eastern
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/15/16 -- IBC Advanced Alloys Corp. (TSX VENTURE: IB) (OTCQB: IAALF) ("IBC" or the "Company") has scheduled a live webcast and conference call with Major General David (Duncan) Heinz (USMC, ret.), President and Chief Executive Officer of IBC, and special guest Mark A. Smith, a member of the IBC Board of Directors and Executive Chairman and CEO of Niocorp Developments Ltd. (TSX: NB). The call will provide an update for investors and the public on the Company's latest developments.
The web conference agenda will feature an operational update from General Heinz. Mr. Smith, who is presently IBC's largest single individual shareholder, will be available to participate with General Heinz in a question-and-answer session with investors and the news media following the General's presentation.
Those wishing to hear the webinar in listen-only mode can do so by dialing in via telephone to any of these toll numbers:
Those wishing to be able to participate and pose questions in the question-and-answer must participate in the webinar via their computers or mobile devices. Advance registration is required in order to participate, and can be done online here: . The IBC webinar ID is 357-639-219.
Questions may be posed in advance by emailing those to . A recording of the webcast will be made available for viewing by the public following the event.
Following registration, participants will be provided instructions on how to participate in the webcast and/or conference call. Specific toll numbers that can be used in 18 different countries will be provided.
In other news, the company also announces it has issued 203,681 common shares to the Company's CEO, as partial payment of his salary, per the terms of his employment agreement.
In February 2016, our CEO, General Heinz, entered into a share-based compensation agreement with IBC, subject to conditional acceptance by the TSX Venture Exchange ("TSXV") which was granted on August 4, 2016. Under this agreement, General Heinz receives the following compensation: 1) from January to July 2016, sufficient cash compensation to cover necessary payroll withholdings with the balance paid in common shares of IBC, and 2) from July 2016 to January 2017, sufficient cash to cover necessary payroll withholdings and cash compensation of $6,000 paid monthly, with the balance paid in common shares of IBC. The issuance of shares is based on the closing price for IBC's common shares on the TSXV on the last trading day of the month. Any extension of the arrangement beyond one year would be subject to the Company obtaining disinterested shareholder approval.
The Company has just issued 203,681 common shares to General Heinz as partial compensation in the amount of $125,748 for the period February 18, 2016 to August 31, 2016. The shares were issued at prices between $0.58 and $0.64 (average price of $0.62) based on the discounted market price in effect on May 26, 2016 (for compensation from February 18, 2016 to April 30, 2016), May 31, 2016, June 30, 2016, July 29, 2016 and August 31, 2016. These common shares are subject to four-month and one day hold period.
General Heinz holds 0.97% of the issued and outstanding common shares of the Company. The issuance of common shares to General Heinz pursuant to the Agreement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and TSXV Policy 5.9 Protection of Minority Security Holders in Special Transactions. The Company is relying on the exemptions from the formal valuation and minority approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25% of the Company's market capitalization.
About IBC Advanced Alloys Corp.
IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
IBC Advanced Alloys Corp.
Jim Sims
Director of Investor and Public Relations
+1 (303) 503-6203
Website:
(at)IBCAdvanced $IB $IAALF #Beryllium #Beralcast
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Datum: 15.09.2016 - 21:00 Uhr
Sprache: Deutsch
News-ID 495120
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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