Ivanhoe Mines Successfully Completes Rights Offering
Early Results Indicate Approximately 100% of Available Common SharesSubscribed, Generating US$1.8 Billion in Gross Proceeds
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2012) - Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) today announced the completion of its rights offering, which expired on July 19, 2012, as scheduled. Based on preliminary results that are subject to confirmation of amounts that will be received from brokers using guaranteed delivery procedures, Ivanhoe estimates it will receive gross proceeds of approximately US$1.8 billion from the rights offering. The proceeds will be used to advance the construction and development of the Oyu Tolgoi Project.
Based on the preliminary results, Ivanhoe expects to issue a total of approximately 260 million new common shares through the rights offering, which would represent approximately 100% of the maximum number of common shares available under the rights offering.
Rio Tinto exercised all of its respective rights issued to it in the rights offering.
Dr. David Klingner, Chairman of Ivanhoe Mines, said, "The Ivanhoe Mines Board of Directors extends its sincere appreciation to all shareholders who participated in, and contributed to, the success of the rights offering."
Ivanhoe expects that the rights offering will close on July 26, 2012, to accommodate those who exercised rights using guaranteed delivery procedures. Ivanhoe intends to mail new common shares acquired through the rights offering to registered subscribers on or promptly after the scheduled closing of the offering.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2012) - Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) today announced the completion of its rights offering, which expired on July 19, 2012, as scheduled. Based on preliminary results that are subject to confirmation of amounts that will be received from brokers using guaranteed delivery procedures, Ivanhoe estimates it will receive gross proceeds of approximately US$1.8 billion from the rights offering. The proceeds will be used to advance the construction and development of the Oyu Tolgoi Project.
Based on the preliminary results, Ivanhoe expects to issue a total of approximately 260 million new common shares through the rights offering, which would represent approximately 100% of the maximum number of common shares available under the rights offering.
Rio Tinto exercised all of its respective rights issued to it in the rights offering.
Dr. David Klingner, Chairman of Ivanhoe Mines, said, "The Ivanhoe Mines Board of Directors extends its sincere appreciation to all shareholders who participated in, and contributed to, the success of the rights offering."
Ivanhoe expects that the rights offering will close on July 26, 2012, to accommodate those who exercised rights using guaranteed delivery procedures. Ivanhoe intends to mail new common shares acquired through the rights offering to registered subscribers on or promptly after the scheduled closing of the offering.
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