Mr. Mark Smith reports

IBC ADVANCED ALLOYS ANNOUNCES ENTERING INTO SALE LEASEBACK AGREEMENTS

Certain of IBC Advanced Alloys Corp.'s U.S. subsidiaries have entered into a purchase contract and industrial lease with Flatbay Properties LLC. Upon completion of customary closing conditions, including approval of the TSX Venture Exchange, the purchase contract will result in $3.85-million (U.S.) in financing for the company. Following the repayment of the company's secured term loan with Sallyport Commercial Finance LLC, the company expects to have approximately $485,000 (U.S.) of the proceeds for working capital.

Pursuant to the purchase contract, Flatbay has agreed to purchase the property located at 401 Arvin Rd., Franklin, Ind., 46131, from a subsidiary. Pursuant to the lease, Flatbay will lease the property to the subsidiary for five years, during which the subsidiary may repurchase the property from Flatbay. The repurchase price will vary depending on the time of repurchase, ranging from$4,100,250 (U.S.) during the first year of the term to $3.85-million (U.S.) at the end of the term. Lease payments during the term will range from $45,850 (U.S.) to $50,370 (U.S.) per month depending on the debt service coverage ratio of a subsidiary. The purchase contract and lease are subject to customary terms for similar agreements in the United States manufacturing sector.

The company has agreed to pay a cash commission equal to 2.5 per cent of the proceeds to Baycross Capital Group, an arm's-length party to the company. The company has previously paid total commissions of $124,518 (U.S.) to Baycross in connection with the company's $3-million (U.S.) term loan with Sallyport and $1.78-million (U.S.) term loan with Loeb Term Solutions. The terms of the loans are described in the company's press releases dated Aug. 28, 2023, and Oct. 26, 2023, respectively.

About IBC Advanced Alloys Corp.

IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defence, aerospace, automotive, telecommunications, precision manufacturing and others. At its vertically integrated production facility in Franklin, Ind., 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 Venture Exchange under the symbol IB and the OTCQB under the symbol IAALF.

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