Mr. Mark Smith reports

IBC ADVANCED ALLOYS SECURES TEMPORARY 90-DAY WAIVERS FOR PAYMENT OF FINAL PRINCIPAL ON ITS 8.25% AND 9.5% DEBENTURES DUE JUNE 6, 2023

IBC Advanced Alloys Corp. has secured temporary 90-day waivers from investors on both its 9.5 per cent senior unsecured debentures and 8.25 per cent senior unsecured convertible debentures.

The debentures, issued pursuant to a debenture indenture dated June 6, 2018, and a convertible debenture indenture dated June 6, 2018, respectively, have a maturity date of June 6, 2023, at which time approximately $136,000 (U.S.) in principal on the 9.5 per cent debentures and $2,591,000 (U.S.) in principal on the 8.25 per cent debentures was due to be paid. The waivers were secured by the company after holders of greater than 50 per cent of the principal amount of each of the debentures signed the waivers. The new due date for the principal payments of both debentures is Sept. 4, 2023.

The company is investigating options to obtain outside financing to pay the principal on the debentures and other alternatives, and has signed a non-binding term sheet with a commercial lender to provide additional financing to the company, but there is no guarantee that such financing will be obtained.

About IBC Advanced Alloys Corp.

IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defence, 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 defence, 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.

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