FRANKLIN, INDIANA / ACCESS Newswire / September 30, 2025 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX-V:IB)(OTCQB:IAALF) is pleased to announce that certain of the Company's U.S. subsidiaries (the "Subsidiaries") have entered into an amendment (the "Amendment") with Iron Horse Credit, LLC (the "Lender"), to amend the existing credit and security agreement with the Lender (the "Credit Agreement"), and to extend the maturity date of the Credit Agreement until September 30, 2026. The Amendment, as further described below, provides additional funding to the Company, which the Company used today to pay all outstanding amounts owed under the Company's credit facility with Sallyport Commercial Finance, LLC.
Pursuant to the Amendment, the Lender will provide the Subsidiaries with advance purchase funding based on the sale of the Subsidiaries' accounts receivable, over which the Subsidiaries have granted the Lender a security interest. As amended, the Credit Agreement will accrue interest at a rate equal to SOFR plus 6% per annum on outstanding amounts, with such interest compounded and payable monthly. The existing terms of the Credit Agreement are described in the Company's press releases dated July 29, 2021 and August 28, 2023.
The Amendment is subject to the approval of the TSX Venture Exchange (the "TSX-V").
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, Chairman of the Board
# # #
Contact:
Mark A. Smith, Chairman of the Board
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF copper
About IBC Advanced Alloys Corp.
IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. The Company's common shares are traded on the TSX-V under the symbol "IB" and the OTCQB under the symbol "IAALF".
Cautionary Statements Regarding Forward Looking Statements
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, receipt of TSX-V approval of the Amendment. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the risk that the Company may not be able to make sufficient payments to retire its debt, including the Credit Agreement, the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Please see "Risks Factors" in our Annual Information Form available under the Company's profile at www.sedarplus.ca, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
SOURCE: IBC Advanced Alloys Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ibc-advanced-alloys-announces-amendment-of-existing-credit-facility-1080130
