IBC Advanced Alloys Announces Amendment of Existing Credit Facilities

Executive Summary

• IBC Advanced Alloys Corp. entered into amendments with its Chairman & CEO, Mark A. Smith, to extend the maturity of two existing loan agreements to December 31 2026.
• The outstanding principal on the loans is approximately US$2.9 million; all other terms—including a 10% annual interest rate—remain unchanged.
• The amendments constitute related‑party transactions exempt from formal valuation and minority‑shareholder approval under MI 61‑101, pending TSX Venture Exchange approval.

Key Details

• Amendment Parties: IBC Advanced Alloys Corp. (the “Company”) and Mark A. Smith (“Lender”), who is also Chairman and CEO of the Company.
• Extended Maturity: Both existing loan agreements now mature on December 31 2026 (previous maturity dates not disclosed).
• Outstanding Principal: Approximately US$2.9 million as of the amendment date.
• Interest Rate: Unchanged at 10% per annum.
• Related‑Party Status: The transaction is a related‑party transaction under MI 61‑101, involving a director and senior officer of the Company.
• Exemption from Valuation/Shareholder Approval: Exempt pursuant to sections 5.5(b) and 5.7(1)(f) of MI 61‑101 because the Company is not listed on the markets specified in section 5.5(b) and the terms are deemed reasonable and non‑convertible into equity or voting securities.
• Regulatory Condition: The amendments are subject to approval by the TSX Venture Exchange (TSX‑V).

Notable Quotes

“On Behalf of the Board of Directors: Mark A. Smith, Chairman of the Board.”

Materiality Assessment: Non‑Material – Neutral (the amendment does not introduce new financing or change pricing terms but provides a material update on debt maturity and related‑party compliance).