Mr. Mark Smith reports

IBC ADVANCED ALLOYS ANNOUNCES ENTERING INTO NEW CREDIT FACILITY AND EXTENSION OF EXISTING CREDIT FACILITY

IBC Advanced Alloys Corp. has entered into a non-revolving credit facility agreement with Mark Smith, chairman and chief executive officer of the company, pursuant to which Mr. Smith will provide short-term financing to IBC Advanced by way of a loan of up to $1.4-million (U.S.), secured by a general security agreement. The company has also entered into an amendment with the lender to extend the maturity date on an existing credit facility agreement with the lender, until Dec. 31, 2024.

The loan will accrue interest at a rate of 10.0 per cent per annum on the principal amount, with such interest compounded monthly in arrears and payable on Aug. 31, 2023. IBC Advanced intends to use the proceeds of the loan for working capital purposes.

The loan and the amendment involve a related party (as such term is defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions)), specifically a director and senior officer of the company, and constitute related-party transactions under MI 61-101. These transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(f) of MI 61-101, as the company is not listed on the markets specified by Section 5.4(b) of MI 61-101, and the loan and the amendment are on reasonable commercial terms and not convertible into or repayable in equity or voting securities of the company.

About IBC Advanced Alloys Corp.

IBC Advanced is a leading beryllium and copper advanced alloy company serving a variety of industries such as defence, aerospace, automotive, telecommunications, precision manufacturing and others. IBC Advanced'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 Advanced'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 Advanced 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 on the OTCQB under the symbol IAALF.

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