Ivanhoe Mines Announces C$500 Million Private Placement

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Last update: Dec 12, 2023

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TORONTO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Ivanhoe Mines Ltd. (TSX: IVN; OTCQX: IVPAF) (“Ivanhoe Mines” or the “Company”) is pleased to announce that it has engaged BMO Capital Markets as sole agent in connection with a proposed offering of 41,667,000 Class A common shares (the “Common Shares”), on a private placement basis (the “Offering”) at a price of C$12.00 per Common Share (the “Offering Price”) for aggregate gross proceeds of C$500 million (approximately US$370 million). The Company expects to grant BMO Capital Markets an option, exercisable at the Offering Price up until 48 hours prior to the closing of the Offering, to place up to an additional 15% of the number of Common Shares purchased pursuant to the Offering. The Offering is expected to close on or about December 18, 2023 and is subject to Ivanhoe Mines receiving all necessary regulatory approvals, including approval of the Toronto Stock Exchange.