SINGAPORE, SINGAPORE--(Marketwired - Sept. 27, 2013) - This press release is issued by Robert M. Friedland, pursuant to the early warning requirements of National Instrument 62-103 with respect to the Class A common shares (the "Common Shares") of Ivanhoe Mines Ltd. (the "Issuer").
Mr. Friedland currently beneficially owns or controls 135,335,035 Common Shares of the Issuer, or approximately 25.56 percent 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 (32,000,000 Common Shares). Mr. Friedland also holds 7,000,000 stock options, of which 4,400,000 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 (the "Private Placement") of up to 54,000,000 Common Shares of the Issuer at a price of Cdn$2.00 per Common Share which is scheduled to close on October 4, 2013, an additional 12,500,000 Common Shares. As a result, as of the date of this press release, Mr. Friedland is the deemed beneficial owner of the 12,500,000 Common Shares to be acquired under the Private Placement, even though the Common Shares are currently unissued, under applicable securities laws. Assuming all 54,000,000 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 percent of the issued and outstanding Common Shares of the Issuer (and 25.33 percent 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 Ltd.'s profile on SEDAR at www.sedar.com.
Signed, Robert M. Friedland
Contact Information:
+1.604.331.9801