CALGARY, Jan. 12 /CNW/ - Ivanhoe Energy Inc. (TSX: IE, NASDAQ: IVAN)
announced today that the company has made an application to extend the
expiry date of 12,410,000 unlisted outstanding common share purchase
warrants for 30 days. The application is subject to the approval of the
Toronto Stock Exchange. The extension would exclude 90,000 warrants
held by an insider of Ivanhoe Energy.
Ivanhoe Energy issued these specific unlisted common share purchase
warrants in two tranches on January 26, 2010 and February 25, 2010 for
10,416,667 and 2,083,333 warrants, respectively, by way of a special
warrant private placement. These warrants are scheduled to expire on
January 26, 2011 however, subject to the approval of the Toronto Stock
Exchange, they would expire on February 25, 2011. No other terms of the
warrants have been affected. Each warrant entitles the holder to
acquire one common share of the company at a price of Cdn$3.16.
Ivanhoe Energy Inc. is an independent, international heavy oil
development and production company focused on pursuing long-term growth
in its reserves and production using advanced technologies, including
its proprietary, patented heavy to light upgrading process (HTL™). Core
operations are in Canada, Ecuador, China and Mongolia, with business
development opportunities worldwide. Ivanhoe's shares trade on the
NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto
Stock Exchange under the symbol IE.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking
statements, including forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to, statements which are not
historical facts. When used in this document, the words such as
"could," "plan," "estimate," "expect," "intend," "may," "potential,"
"should," and similar expressions relating to matters that are not
historical facts are forward-looking statements. Although Ivanhoe
Energy believes that its expectations reflected in these
forward-looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from these
forward-looking statements include risks disclosed in Ivanhoe Energy's
Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission on EDGAR and the Canadian Securities Commissions on SEDAR.
SOURCE Ivanhoe Energy Inc.
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