Singapore, Singapore--(Newsfile Corp. - December 2, 2019) - This news release is issued by Robert M. Friedland pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to class A common shares ("common shares") of Ivanhoe Mines Ltd. ("Ivanhoe Mines").
Mr. Friedland has regained direction and control over 25,000,000 common shares that were previously pledged as security for a loan made to Mr. Friedland by a third party commercial bank (the "Lender"). The 25,000,000 common shares constitute 2.1% of the 1,194,039,162 common shares of Ivanhoe Mines currently issued and outstanding. Mr. Friedland's controlled affiliate, Newstar Advantage Ltd. continues to be the registered owner of 135,570,260 common shares (which includes the 25,000,000 common shares released from the pledge by the Lender and over which Mr. Friedland now exercises direction and control) and Mr. Friedland continues to directly own 34,454,717 common shares, which in aggregate total 170,024,977 common shares, representing in aggregate approximately 14.2% of the common shares currently issued and outstanding. Mr. Friedland also may be deemed to own 2,525,000 common shares issuable on exercise of previously granted options, and as a result may be deemed to own, in aggregate, 172,549,977 common shares, representing approximately 14.4% of the 1,196,564,162 common shares then issued and outstanding on a partially-diluted basis.
The acquiror, Mr. Friedland, has a business address of 150 Beach Road, #25-03, The Gateway West, Singapore 189720.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Ivanhoe Mines' profile on the SEDAR website (www.sedar.com), or contact Sam Kenny at (604) 689-8765. Ivanhoe Mines has an office at 654-999 Canada Place, Vancouver, British Columbia, Canada, V6C 3E1.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50289