IBC Advanced Alloys Announces an Increase to Its Credit Facility with BMO Harris Bank
June 2, 2020
Source: Globe Newswire
IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to announce the Company has reached agreement with BMO Harris Bank N.A. (“BMO”) to increase the available capacity of IBC’s operating credit facility with BMO, dated October 1, 2012, from $3.0 million to $3.5 million.
“We are very pleased with this expansion of our credit facility with BMO, as it provides IBC with additional resources to support business operations as well as our ongoing efforts to expand capabilities and sales,” said Mark A. Smith, IBC’s Board Chairman. “Our focus at IBC is all about performance, performance, performance. We look forward to building on the Company’s recent financial performance and continuing to advance toward our goal of achieving sustained profitability.”
The rate of interest associated with this credit facility is Prime + 2.25%. For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Mark A. Smith”
Mark A. Smith, Chairman of the Board
CONTACTS:
Mark A. Smith, Chairman of the Board
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF
ABOUT IBC ADVANCED ALLOYS CORP.
IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper 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 defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's 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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