Ivanhoe Energy receives proceeds from Cdn$125 Million Private Placement
The proceeds from this placement will be used to advance Ivanhoe Energy's key projects, Tamarack in
This placement was executed with North American institutional investors and a significant sovereign wealth fund. Ivanhoe Energy's institutional ownership, exclusive of management, is now approximately 50 percent of the company's outstanding shares.
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-oil upgrading process (HTL(TM)). Core operations are in
For more information about Ivanhoe Energy Inc. please visit our web site at www.ivanhoeenergy.com.
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 concerning the ultimate size of the private placement and the proposed use of proceeds. When used in this document, words such as "could", "plan", "expect", "estimate", "anticipate", "intend", "may", "potential", "should", and similar expressions relating to matters that are not historical facts are forward-looking statements. Although the Company believes 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 the possibility that the Company will be unable to raise financing and other 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.
For further information: David Dyck: (403) 817-1138; Ian Barnett: (647) 203-6588; Dorreen Miller: (403) 817-1108; [email protected]
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