IBC Advanced Alloys Corp. announced a non-brokered private placement of 9,259,260 units at an issue price of CAD 0.108 per unit for gross proceeds up to CAD 1,000,000 on December 13, 2022. Each unit will consist of one common share and and one common share purchase warrant.

Each warrant will entitle the holder to acquire one common share at a price of CAD 0.135 at any time prior to the date which is two years following completion of the transaction. The transaction is expected to close on December 14, 2022 and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and other customary conditions. All of the securities issued pursuant to the transaction will be subject to a four month hold period in accordance with applicable Canadian securities laws.