IBC Advanced Alloys (TSE:IB) has released an update.
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IBC Advanced Alloys Corp. has approved the issuance of over 6.6 million common shares as compensation for director services and credit facility guarantees by Mark Smith. These shares, priced at C$0.07 each, are subject to approval by the TSX Venture Exchange and will be restricted from trading for four months and a day. This issuance is considered a related party transaction but is exempt from certain formalities as it falls below 25% of the company’s market capitalization.
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