IBC Announces Share-Based Compensation to Directors and Consideration Shares for Credit Facility Guarantees

IBC Advanced Alloys Corp. ("IBC" or the "Company") announced the approval of 1,714,284 common shares to its directors for their service from July 2023 to June 2024. Additionally, Mark Smith will receive 4,982,000 common shares for guaranteeing the Company's credit facilities with Iron Horse Credit, LLC and Sallyport Commercial Finance, LLC.

The shares are priced at C$0.07 each, the closing price on June 24, 2024, and await TSX Venture Exchange approval. They will be subject to a four-month hold period from the issuance date.

Mark Smith's guarantee covers US$3,000,000 owed to Iron Horse and US$2,000,000 owed to Sallyport. This transaction is a "related party transaction" under Multilateral Instrument 61-101. However, it is exempt from valuation and minority approval requirements as it does not exceed 25% of the Company's market capitalization.