IBC Advanced Alloys Announces Closing of its C$2M Non-Brokered Private Placement; Announces Additional C$284,000 Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES

FRANKLIN, Ind., Dec. 13, 2019 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX-V: IB; OTCQB: IAALF) is pleased to announce that it has closed the Company's previously announced non-brokered private placement (the "Offering").

Pursuant to the Offering, the Company issued 17,094,010 common shares of the Company (the "Common Shares") at a price of C$0.117 per Common Share for gross proceeds to the Company of approximately C$2,000,000. The Common Shares issued pursuant to the Offering are subject to a four month hold period in accordance with applicable Canadian securities laws.

The Company is also pleased to announce that due to strong demand for the Offering, the Company intends to offer, on a non-brokered private placement basis, up to an additional 2,105,000 Common Shares at a price of C$0.135 per Common Shares for additional gross proceeds to the Company of approximately C$284,000 (the "Additional Offering").

It is expected that the Additional Offering will close on or before December 20, 2019 and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSXV Venture Exchange ("TSXV") and other customary conditions. The Common Shares sold pursuant to the Additional Offering will be subject to a four month hold period, which will expire four months and one day from the date of closing.

Proceeds of the Offering and the Additional Offering will be used for working capital and general corporate purposes.

Mark Smith and Simon Anderson, directors of the Company, participated in the Offering by purchasing an aggregate of 3,380,230 Common Shares. Accordingly, the Offering constitutes a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), and subject to participation by certain directors and officers, the Additional Offering may also constitute a related-party transaction. The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of any securities issued to nor the consideration paid by such persons would exceed 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Offering as the details of the Offering and the participation therein by related parties of the Company were not settled prior to the closing of the Offering and the Company wished to close on an expedited basis for sound business reasons.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

For more information on IBC and its innovative alloy products, go here.

On Behalf of the Board of Directors:

"Mark Smith"

Mark Smith P.E., Esq., Chairman

Contact:

Mark A. Smith, Chairman
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: [email protected]

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 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, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".

Cautionary Statements

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither 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 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, the expected closing date of the Additional Offering, participation by certain directors and officers and use of proceeds. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: 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.sedar.com, 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.