IBC Advanced Alloys Amends Credit Facilities, Extends Maturities

IBC Advanced Alloys Corp. has announced amendments to its credit facility agreements with its Chairman and CEO, Mark Smith. The changes extend the loan maturity dates to December 31, 2025, and increase the borrowing capacity by $452,500, keeping the interest rate unchanged at 10% per annum. These amendments raise IBC's outstanding principal to approximately $2.9 million, pending approval from the TSX Venture Exchange.

These transactions, involving a related party transaction under Multilateral Instrument 61-101, are exempt from valuation and minority shareholder approval requirements due to the company's current market listing and the commercial terms of the amendment. While IBC expects favorable outcomes, approval from the TSX-V remains crucial.