sur IBC Advanced Alloys Corp. (CVE:IB)
IBC Advanced Alloys Modifies Credit Facilities and Grants CEO Additional Rights
IBC Advanced Alloys Corp. announced an amendment to existing credit facility agreements with its CEO, Mark Smith. This modification extends the maturity dates until June 30, 2025, and includes revisions to monthly repayment obligations. These amendments are awaiting approval from the TSX Venture Exchange. Additionally, the company has granted Mr. Smith specific information and registration rights, alongside future financing participation rights.
These amendments involve related party transactions, exempt from formal valuation and minority shareholder approval. This decision adheres to Multilateral Instrument 61-101 guidelines due to the company's reasonable commercial terms and its listing status. This arrangement marks a strategic financial move for IBC.
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