IBC Advanced Alloys (TSE:IB) has released an update.
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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