IBC Advanced Alloys (TSE:IB) has released an update.
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IBC Advanced Alloys Corp. has secured a sale leaseback deal with Flatbay Properties LLC, providing $3.85 million in funding after repaying a secured term loan, with around $485,000 allocated for working capital. The subsidiary has the option to re-purchase the property within five years, with the price and monthly lease payments varying based on timing and debt service coverage. The agreement includes a 2.5% commission to Baycross Capital Group and is in line with standard U.S. manufacturing sector terms.
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