AMERICAN FORK, Utah, Dec. 20, 2019 /CNW/ -- On December 18, 2019, the Supreme Court of Nova Scotia (the "Court") advised that it will issue the form of order (the "Order") which IBC Advanced Technologies, Inc. ("IBC") proposed is appropriate following the December 4, 2019 interlocutory injunction hearing. Specifically, the Order will include the following:
"Nothing in this Order prohibits the Defendant, IBC Advanced Technologies, Inc. ("IBC"), from carrying on and marketing its business in the ordinary course of business, so long as such does not conflict with the terms of the Option Agreement and more specifically, IBC is permitted to carry on business in the Rare Metals, Tailings Remediation and Catalytic Converter Recycling Sectors…"
Ucore Rare Metals, Inc. ("Ucore") had argued vigorously that IBC should be blocked from carrying on business in the Rare Metals sector and other sectors, but the Court disagreed. Ucore's public statement in its December 5, 2019 press release that the interlocutory injunction which it had requested was granted by the Court is inconsistent with the actual result of the hearing.
The Order also enjoins Ucore from enforcing its asserted and disputed rights under the Option Agreement.
Background of IBC
IBC is an award-winning provider of proprietary and innovative Molecular Recognition Technology ("MRT") products and processes, based on green chemistry and green engineering, to premier customers worldwide. IBC's SuperLig®, AnaLig® and MacroLig® products and associated processes are used in manufacturing, analytical and laboratory applications.
In 1988, IBC was founded by and named after three Brigham Young University professors: Dr. Reed M. Izatt, Dr. Jerald S. Bradshaw and Dr. James J. Christensen.
IBC is the proud sponsor of the International Izatt-Christensen Award. This Award, founded in 1991 and named after Dr. Reed M. Izatt and Dr. James J. Christensen, two of the founders of IBC, recognizes excellence in macrocyclic and supramolecular chemistry. It is known as one of the most prestigious small awards in chemistry. The Award is presented annually at the International Symposium on Macrocyclic and Supramolecular Chemistry ("ISMSC"). Two of the early recipients of the Award later shared the 2016 Nobel Prize in Chemistry. The precursor of the ISMSC was founded by Dr. Izatt and Dr. Christensen in 1977.
A privately held Utah corporation, IBC counts among its shareholders a multi-billion dollar international manufacturing company, which has been a major customer and benefactor of IBC for over thirty (30) years. IBC has built its business upon integrity, trust and excellence and values its close association with such top-tier companies.
IBC provides proprietary, green chemistry and green engineering SuperLig® Molecular Recognition Technology products and processes worldwide. More information can be found at www.ibcmrt.com.
SOURCE IBC Advanced Technologies, Inc.