Brief: IBC Advanced Alloys says Anthony Dutton to step down as co's CEO

IBC Advanced Alloys

07/04/2016 16:11

April 7 (Reuters) - IBC Advanced Alloys Corp  IB.V : 
    * IBC Advanced Alloys announces major corporate 
reorganization including a C$5.5 million capital raise to boost 
production 
    * Will consolidate share capital on basis of one 
post-consolidation common share for every ten pre-consolidation 
common shares 
    * IBC Advanced Alloys Corp says reorganization consists of a 
share consolidation of its issued and outstanding common shares 
    * Reorganization consists of a post-consolidation private 
placement and certain changes to company's management and 
directors 
    * IBC Advanced Alloys Corp says reorganization consists of a 
share consolidation of its issued and outstanding common shares 
    * Anthony Dutton will step down as IBC's CEO and will move 
to position of vice president 
    * As part of reorganization plan, major general David 
"Duncan" Heinz, IBC's current chief operating officer, will take 
over as CEO 
    * Further, on closing of private placement, board members 
Alastair Neill and Dal Brynelsen will be resigning 
    * Non-Brokered private placement of post-consolidation units 
at issue price of C$0.375/unit for gross proceeds of up to C$5.5 
million 
 
Source text for Eikon:  ID:nCCN6mnWdY  
Further company coverage:  IB.V  
 
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