TORONTO, CANADA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) (the “company”) today announced the closing of its previously announced private placement offering of US$575,000,000 aggregate principal amount of 2.50% convertible senior notes due 2026 (the “Notes” and the “Offering”), which includes the exercise in full of the initial purchasers’ option to purchase up to an additional US$75,000,000 aggregate principal amount of Notes.
Executive Co-Chairman of the company, Robert Friedland, commented, “We received tremendous inbound interest in our convertible notes financing from leading North American and European fundamental institutional investors, as was evidenced by the order book being significantly oversubscribed. The overwhelmingly positive response to this financing reflects the quality of our mining and exploration assets, our industry-leading ESG initiatives, and the strength of our operational and exploration teams. We believe that the convertible notes, with a coupon rate of 2.50%, represent an extremely attractive form of financing to further advance our growth projects, which each have compelling projected rates of return. We also have the option of repaying the convertible notes in cash, rather than shares.”
The company intends to use the net proceeds from the Offering for general corporate purposes. The company will provide a further update in due course on a number of opportunities to accelerate planned expansions at the company’s world-scale portfolio of mining and exploration assets, which may be funded in part with the net proceeds from the Offering.
The Notes and the distribution of Common Shares issuable upon conversion of the Notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in the United States or in any other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the DRC and at the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC.
Kamoa-Kakula is expected to begin producing copper concentrate in July 2021 and, through phased expansions, is positioned to become one of the world’s largest copper producers. Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and Kamoa-Kakula will be among the world’s lowest greenhouse gas emitters per unit of metal produced. Ivanhoe also is exploring for new copper discoveries on its wholly-owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.
Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034
Cautionary statement on forward-looking information
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release. Such statements include, without limitation, the expected use of proceeds from the Offering, including a number of opportunities to accelerate planned expansions at the company’s world-scale portfolio of mining and exploration assets, which may be funded in part with the net proceeds from the Offering.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, risks related to the fact that the company’s management will have broad discretion in the use of the proceeds from the Offering; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
艾芬豪矿业 (TSX: IVN; OTCQX: IVPAF) (以下简称“本公司”) 今天宣布，公司已完成发行早前公布私募发行总额为5.75亿美元、票息率2.50%、2026年到期的高级可转债 (以下简称“债券”或“债券发行”)，其中包括初始买方悉数行使额外购买权认购的7,500万美元债券。
公司执行联席董事长罗伯特·弗里兰德 (Robert Friedland) 表示﹕“对于此次可转债的发行，美国和欧洲的顶级机构投资者均表现了强烈的认购意愿，并最终获得超额认购。债券发行受到外界热烈的响应，反映了我们的采矿和勘探资产的资源禀赋、行业领先的ESG (环境、社会和公司管治) 举措，以及我们的运营和勘探团队的实力。我们相信，票息率2.50% 的可转债是一种极具吸引力的融资方式，可支持我们进一步推进项目开发，预期各个项目的回报率均会十分可观。届时我们可以选择以现金，而不是发行股票来承兑可转债。”
债券或因转换债券而发行的普通股尚未且不会根据美国《1933年证券法》修订版 (以下简称“证券法”) 或任何州的证券法进行备案，除非根据《证券法》的注册要求及其下颁布的规则以及适用的州证券法得到豁免或在不受其约束的交易中进行，否则不得在美国发行或出售。
艾芬豪矿业是一家加拿大的矿业公司，目前正推进旗下位于南部非洲的三大合资企业项目﹕位于刚果(金)的卡莫阿-卡库拉 (Kamoa-Kakula) 铜矿和位于南非的普拉特瑞夫 (Platreef) 钯-铂-镍-铜-铑-金矿的大型机械化地下矿山开发工程，以及同样位于刚果(金)、久负盛名的基普什 (Kipushi) 锌-铜-锗-银矿的大型重建和改善工程。
卡莫阿-卡库拉预计将于2021年7月实现铜精矿生产，并分阶段进行扩建，预计将会成为全球最大规模的铜生产商之一。卡莫阿-卡库拉和基普什将使用清洁、可再生的水电，卡莫阿-卡库拉将成为全球每单位金属温室气体排放量最低的矿山之一。同时，艾芬豪正在刚果(金)境内其全资拥有、毗邻卡莫阿-卡库拉项目的西部前沿 (Western Foreland) 探矿权内寻找新的铜矿资源。
投资者﹕Bill Trenaman +1.604.331.9834 / 媒体﹕Matthew Keevil +1.604.558.1034