IBC Advanced Alloys Strengthens its Balance Sheet by Paying Off the Mortgage on its Copper Alloys Manufacturing Facility
2022年1月25日 - 7:01AM
IBC Advanced Alloys Corp. (“
IBC” or the
“
Company”) (
TSX-V: IB; OTCQB:
IAALF) announces that it has completed payments on its
$1.7 million mortgage term loan on its Copper Alloys manufacturing
facility in Franklin, Ind. Paying off this mortgage is part of
IBC’s primary corporate strategy of reducing its debt burden.
“I am very pleased to announce that we have been
able to pay off our sole mortgage as part of our ongoing effort to
reduce corporate debt,” said Mark A. Smith, CEO and Director of
IBC. “It is especially exciting that continuing strong sales across
both of our operating divisions are strengthening IBC’s ability to
generate cash flow and strengthen our balance sheet
organically.”
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, CEO and Chairman of the Board
Contact:
Mark A. Smith, Chairman of the BoardJim Sims,
Director of Investor and Public Relations+1 (303) 503-6203
Email: jsims@policycom.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #Beryllium #Beralcast
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 Alloys 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
and Massachusetts. The Company's common shares are traded on the
TSX-V under the symbol "IB" and the OTCQB under the symbol
"IAALF".
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy of this news release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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