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Industrial Biotechnology Corporation Announces Reduction in Number of Shares Outstanding and Strategic Partner Financing Via Restricted Preferred Stock

SARASOTA, Fla., Feb. 24 /PRNewswire-FirstCall/ -- Industrial Biotechnology Corporation (OTC Pink Sheet Penny Stocks: IBTY message board, news, dd, quote) ('IBC' or the 'Company'), a company committed to the principles of sustainable development by commercializing technologies that enable biological chemical production, is pleased to announce a reduction in the total number of shares outstanding simultaneously with a strategic round of financing led by selected biological manufacturers and process development and scale-up partners.