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