Ivanhoe Mines (IVN-T) investor Friedland controls 25.56%
Robert M. Friedland, pursuant to the early warning requirements of National Instrument 62-103 with respect to the Class A common shares of Ivanhoe Mines Ltd., has provided the following news release.Mr. Friedland currently beneficially owns or controls 135,335,035 common shares of the issuer, or approximately 25.56 per cent of the issued and outstanding common shares and Class B common shares of the issuer, through his wholly owned societies, Evershine SRL (37,276,815 common shares), Newstar Securities SRL (66,058,220 common shares) and HHC Holdings SRL (32 million common shares). Mr. Friedland also holds stock options for seven million shares, of which 4.4 million are vested and exercisable into common shares.
Mr. Friedland acquired the common shares for investment purposes.
Mr. Friedland has agreed to purchase from the issuer, by way of a non-brokered private placement of up to 54 million common shares of the issuer at a price of $2 per common share, which is scheduled to close on Oct. 4, 2013, an additional 12.5 million common shares. As a result, as of the date of this press release, Mr. Friedland is the deemed beneficial owner of the 12.5 million common shares to be acquired under the private placement, even though the common shares are currently unissued, under applicable securities laws. Assuming all 54 million common shares in the private placement are subscribed for, Mr. Friedland would beneficially own or control 147,835,035 common shares of the issuer, representing approximately 25.98 per cent of the issued and outstanding common shares of the issuer (and 25.33 per cent of the issued and outstanding common shares and Class B common shares).
Depending on economic or market conditions or matters relating to the issuer, Mr. Friedland may choose to either acquire additional common shares or dispose of common shares of the issuer.
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 SEDAR. |
