IBC Advanced Alloys Announces Amendment to Existing Term Loan
Rhea-AI Summary
IBC Advanced Alloys (OTCQB:IAALF, TSXV:IB) amended its existing term loan with Loeb Term Solutions. The outstanding balance of about US$916,000 has been refinanced, increasing total availability to US$1,370,268 and extending the maturity date by three years.
After fees and expenses, IBC expects approximately US$424,000 in additional proceeds for working capital. All other loan terms remain unchanged. The amendment is subject to TSX Venture Exchange approval.
AI-generated analysis. Not financial advice.
Positive
- Term loan availability increased to approximately US$1,370,268
- Debt maturity extended by three years from amendment date
- Approximately US$424,000 additional proceeds expected for working capital
Negative
- Total term loan indebtedness increases from about US$916,000 to US$1,370,268
- Amended term loan remains subject to TSX Venture Exchange approval
FRANKLIN, IN / ACCESS Newswire / May 28, 2026 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSXV:IB)(OTCQB:IAALF) is pleased to announce that certain of the Company's U.S. subsidiaries (the "Subsidiaries") have entered into an amendment (the "Amendment") to the term loan (the "Term Loan") with Loeb Term Solutions LLC ("Loeb") dated October 26, 2023, secured by a credit and security agreement. Pursuant to the Amendment, the Term Loan, of which approximately US
All other terms of the Term Loan remain as described in the Company's press release dated October 26, 2023.
The Amendment is subject to the approval of the TSX Venture Exchange (the "TSX-V").
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Mark A. Smith"
Mark A. Smith, Chairman
# # #
Contact:
Mark A. Smith, Chairman of the Board
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #copper
About IBC Advanced Alloys Corp.
IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. The Company's common shares are traded on the TSX-V under the symbol "IB" and the OTCQB under the symbol "IAALF".
Cautionary Statements
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, receipt of the TSX-V approval of the Amendment. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the risk that the Company may not be able to make sufficient payments to retire its debt, including the Term Loan, the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Please see "Risk Factors" in our Annual Information Form available under the Company's profile at www.sedarplus.ca, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
SOURCE: IBC Advanced Alloys Corp.
View the original press release on ACCESS Newswire