IBC Advanced Alloys Corp. announced that certain of the Company's U.S. subsidiaries (the "Subsidiaries") have entered into a term loan (the "Term Loan") with Loeb Term Solutions LLC ("Loeb") of approximately USD 1,780,000, secured by a credit and security agreement. Following the repayment of the Company's equipment loan with Utica Equipment Finance, LLC, the Company expects to have approximately USD 1.1 million available for working capital.

The Term Loan will accrue interest at an annual rate equivalent to the prime rate plus 6.5%. Approximately USD 230,000 of the Term Loan has a term of two years and USD 1,550,000 of the Term loan has a term of three years. The Term Loan is subject to customary terms for similar agreements in the United States manufacturing sector.