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IBC Advanced Alloys Down About 6% on Heavy Trade As Acquires Financing

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IBC Advanced Alloys Corp. (IB.V) went down by about 6% with more than 3.9 million shares traded on midday Wednesday. On September 12, the company said it has been issued a receipt for a preliminary short-form prospectus from the securities regulatory authorities in the provinces of British Columbia and Ontario in connection with a best efforts offering of units of IBC for gross proceeds of a minimum of $5 million and up to a maximum of $8 million. The net proceeds from the Offering will be used to strengthen IBC's balance sheet.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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