Ibero Mining Corp. — Capital/Financing Update 2020

Nov 9, 2020

Form 51-102F3 Material Change Report

Item 1. Name and Address of Company Industria Metals Inc. (the “ Company ”) Suite 650 – 1021 West Hastings St. Vancouver, BC V6E 0C3 Telephone: (604) 558 7687 Item 2. Date of Material Change November 6, 2020.

Item 3. News Release

The news release announcing the material change has been issued at Vancouver, British Columbia on November 8, 2020 disseminated via Cision and was filed on SEDAR.

Item 4. Summary of Material Change Industria Metals Inc. (or the “ Company ”), closed a non-brokered private placement for a total gross proceeds of $664,067. Coincident with the closing of the private placement, Industria Metals Inc. also appointed Mr. John Paul Dau as a director of the Company.

Item 5. Full Description of Material Change Total gross proceeds of $664,067 were raised from the sale of 132,813,400 units (“Units”) of the Company priced at $0.005 per unit.

Each Unit is comprised of one common share of the Company (“Common Share”) and onehalf of one common share purchase warrant (“Warrant”). Each whole Warrant entitles the holder, on exercise, to acquire one common share at a price of C$0.01 until November 6, 2021, subject to acceleration in certain circumstances. In the event that the Company receives conditional approval for a listing event on a public stock exchange (the “Listing Event”), the Warrant expiration date will accelerate to the date 30-days subsequent to the news release announcing the Listing Event, provided that the news release announcing the Listing Event is published before the date that is 30 days prior to the warrants’ expiry date.

Any common shares issued as part of this private placement will be subject to a statutory hold period of four months and one day from the date of issuance.

Funds raised from this financing will be used for general corporate purposes.

Coincident with the closing of the private placement, the Company has also appointed Mr. John Paul Dau as a director, and member of the Company’s board of directors effective November 8, 2020.

Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102 Not Applicable. Item 7. Omitted Information Not Applicable.

Item	8.	Executive Officer
		Catalin Kilofliski, CEO, Tel No: 604-655-1420
Item	9.	Date of Report
		Dated at Vancouver, BC, this 8thday of November, 2020.