On December 18, 2023, Ivanhoe Mines Ltd. closed its previously announced private placement offering of 47,917,050 Class A common shares at a price of $12.00 per Common Share for aggregate gross proceeds of approximately $575 million (approximately US$430 million), including the full exercise of the 15 percent agent’s option granted to BMO Capital Markets, as the sole agent.
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the construction of the tier-one Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa; and the restart of the historic ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC.
Stikeman Elliott LLP acted as counsel to Ivanhoe Mines with a team that includes Victor Gerchikov, Ben Schach and Michael Ho.
Blakes, Cassels & Graydon LLP acted for BMO Capital Markets.