Mr. Mark Smith reports

IBC ADVANCED ALLOYS ANNOUNCES AMENDMENT OF EXISTING CREDIT FACILITY

Certain of IBC Advanced Alloys Corp.'s U.S. subsidiaries have entered into an amendment with Iron Horse Credit LLC, to amend the existing credit and security agreement with the lender, and to extend the maturity date of the credit agreement until Sept. 30, 2026. The amendment, as further described below, provides additional financing to the company, which the company used today to pay all outstanding amounts owed under the company's credit facility with Sallyport Commercial Finance LLC.

Pursuant to the amendment, the lender will provide the subsidiaries with advance purchase financing based on the sale of the subsidiaries' accounts receivable, over which the subsidiaries have granted the lender a security interest. As amended, the credit agreement will accrue interest at a rate equal to SOFR (secured overnight financing rate) plus 6 per cent per annum on outstanding amounts, with such interest compounded and payable monthly. The existing terms of the credit agreement are described in the company's news releases dated July 29, 2021, and Aug. 28, 2023.

The amendment is subject to the approval of the TSX Venture Exchange.

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, In., 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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