Ibc Advanced Alloys Corp Stock Price, News & Analysis

IBC Advanced Alloys Corp. (OTCQB:IAALF) plans to conduct a non-brokered private placement of up to 9,259,260 units at C$0.108 each, totaling up to C$1.0 million. Each unit includes one common share and a warrant, allowing purchase of additional shares at C$0.135 for two years post-offering. The placement is expected to close on December 14, 2022, pending regulatory approvals. Proceeds will be allocated to working capital and corporate purposes. All issued securities are subject to a four-month hold period.

IBC Advanced Alloys Corp. (OTCQB:IAALF) has announced the issuance of common shares to satisfy approximately C$152,978.75 in interest payments due on its debentures on December 31, 2022. This action pertains to its 9.50% and 8.25% unsecured debentures due June 6, 2023. The share price will be based on the average trading price over the 20 days leading up to the payment date, ensuring it meets minimum market price requirements. This decision is subject to the approval of the TSX Venture Exchange.

IBC Advanced Alloys Corp. (OTCQB:IAALF) reported its Q3 2022 financial results, revealing a 16.4% decline in consolidated sales, primarily due to decreased demand for its Engineered Materials division's beryllium-aluminum products, which had previously reached historic highs. Conversely, the Copper Alloy division experienced a 25.1% sales increase year-over-year and a 21.6% sequential rise, marking its fourth consecutive quarter of growth. The company posted a net loss of $2 million ($0.02 per share), worsening from a loss of $581,000 in the prior year.

IBC Advanced Alloys Corp. (OTCQB:IAALF) has secured a contract to supply beryllium-aluminum alloy components to L3Harris Technologies for an undisclosed aerospace application. The company's Engineered Materials Division will produce these components using proprietary investment casting technology, allowing for efficient and cost-effective manufacturing. This contract marks a significant collaboration, tapping into IBC's expertise in providing high-performance materials for demanding operational environments, thereby contributing to savings in national defense procurement.

IBC Advanced Alloys Corp (OTCQB:IAALF) announced a 23.4% increase in consolidated sales for the year ending June 30, 2022, totaling $26.9 million. The Engineered Materials division saw a robust growth of 53.7%, while Copper Alloy sales rose by 3.7%. Despite an 8.8% quarterly sales decline to $6.4 million impacted by raw material supply issues, gross profit and margin improved, with consolidated Adjusted EBITDA soaring 82.4% year-over-year to $2.2 million. IBC continues its growth trajectory, marking four consecutive years of sales increases.

IBC Advanced Alloys Corp. (OTCQB: IAALF) has secured a $1.2 million non-revolving credit facility from its CEO, Mark Smith. The loan, accruing interest at 10.0% per annum, will be used for working capital. This related party transaction falls under the guidelines of MI 61-101, which exempts it from formal valuation and minority shareholder approval, as it does not exceed 25% of the company's market capitalization. IBC specializes in advanced beryllium and copper alloys for various industries including defense and aerospace.

IBC Advanced Alloys Corp. (TSXV:IB, OTCQB:IAALF) has announced the grant of incentive stock options for 1,910,000 common shares to its directors, officers, employees, and consultants. These options are exercisable over five years at a price of C$0.24 per share. Vesting occurs in increments of 25% starting from the grant date and at each of the subsequent three anniversaries. This move is part of the company's compensation strategy to align employee incentives with shareholder interests.

IBC Advanced Alloys Corp. (TSXV:IB, OTCQB:IAALF) announced it will issue common shares to meet approximately C$152,978.75 in interest obligations for 9.50% and 8.25% debentures due June 6, 2023. This decision is in accordance with existing debenture indentures. The share price will be determined based on a 20-day volume-weighted average prior to the payment date, subject to TSX Venture Exchange approval. This initiative aims to manage cash flow without depleting available cash resources.

IBC Advanced Alloys Corp. (TSX-V:IB; OTCQB:IAALF) reports a profitable quarter with comprehensive income of $287,000, a 107% increase over the previous year. This quarter marks the second consecutive profitable quarter, achieving profitability for three quarters in a row. Consolidated sales rose by 16.0% to $6.3 million, while sales in the Copper Alloys division increased by 1.7%. The Engineered Materials division saw a significant 37.7% sales increase. Adjusted EBITDA jumped by 24.5% to $854,000.