Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today reminded
eligible shareholders that the company's current rights offering
will expire in eight days, on January 26, 2011.
Under terms of the rights offering, all holders of rights must
either a) validly deliver their completed rights certificates to
the Subscription Agent, CIBC Mellon Trust Company, before the
expiry deadline on January 26, 2011, at 5:00 p.m. Eastern Standard
Time (EST); or b) provide a notice to the Subscription Agent
guaranteeing delivery of their rights certificates within three
business days of the January 26 expiry deadline (which will be
January 31, 2011), in both cases accompanied by payment of the
total applicable subscription price.
An earlier deadline will apply for rights held through
securities brokers, dealers, banks, trust companies or other
custodians that participate directly or indirectly in the
book-based systems administered by CDS Clearing and Depository
Services Inc. or the Depository Trust Company. Holders of such
rights should contact their broker, dealer, bank, trust company or
other custodian to determine the deadlines applicable to them.
Details of the rights offering are contained in the final
prospectus, notices and the rights certificate that were mailed to
each registered shareholder resident in Canada and the United
States on January 5, 2011. The final prospectus, dated December 16,
2010, and the notices are available on SEDAR, EDGAR and the Ivanhoe
Mines website (www.ivanhoemines.com).
Key terms of the rights offering include:
-- Ivanhoe Mines has issued, at no charge, to holders of its common stock
as of the close of business on December 31, 2010, rights to subscribe to
additional shares of Ivanhoe Mines' common stock at a subscription price
of either US$13.88 per share or CDN$13.93 per share.
-- Every 100 rights allow the holder to purchase 15 common shares of
Ivanhoe Mines. Every 20 rights, for example, entitle the holder to
purchase three common shares.
-- Shareholders who do not wish to exercise their rights to subscribe to
new common shares under the offering have the option of selling their
rights through the Toronto Stock Exchange (TSX), the New York Stock
Exchange (NYSE) and NASDAQ.
-- The rights are trading on the TSX under the symbol "IVN.RT", on the NYSE
under the symbol "IVN RT" and on NASDAQ under the symbol "IVN.R".
-- Trading of the rights on the NYSE and NASDAQ will stop at the close of
trading on January 25, 2011. Trading of the rights on the TSX will stop
at noon EST on January 26, 2011.
-- The rights offering will expire at 5:00 p.m. EST on January 26, 2011.
Rights not exercised prior to the expiry time will be void and of no
value.
-- Shareholders who do not exercise all of their rights will have their
present ownership interests in Ivanhoe Mines reduced, as a percentage of
the total outstanding common shares, as a result of the rights offering.
-- The rights offering is scheduled to close on February 2, 2011.
-- Approximately 85 million common shares are expected to be issued under
the rights offering, which would represent approximately 15.0% of
Ivanhoe Mines' outstanding shares as of the December 31, 2010, record
date.
Shareholders who have received a rights certificate and wish to
exercise their subscription rights should follow the instructions
included on the back of the rights certificates and in the notices
to Canadian and U.S. registered shareholders. Rights must be
exercised at the office of CIBC Mellon Trust Company, 199 Bay
Street, Commerce Court West, Securities Level, Toronto, Ontario,
Canada, M5L 1G9, before 5:00 p.m. EST on January 26, 2011.
Owners of Ivanhoe Mines' shares held in brokerage accounts who
wish to exercise their subscription rights should follow
instructions from their brokers. Those wishing to participate in
the rights offering who have not heard from their brokers should
deal with their brokers or contact CIBC Mellon Trust Company by
telephoning 1-800-387-0825 toll free (in North America),
1-416-643-5500 (if calling from outside North America) or emailing
inquiries@cibcmellon.com.
The rights and the underlying common shares have not been
qualified under the securities laws of any jurisdiction other than
Canada and the United States. Shareholders residing outside Canada
and the United States may not be eligible to participate in the
rights offering by exercising rights.
Registered shareholders resident outside of Canada and the
United States were required to satisfy Ivanhoe Mines of their
eligibility -- and, if applicable, the eligibility of each
beneficial shareholder for whom they may be acting -- to
participate in the rights offering on or before 4:30 p.m. EST on
January 14, 2011. For shareholders who failed to confirm their
eligibility, CIBC Mellon will attempt, on a best efforts basis, to
sell their rights at such prices and in such markets as CIBC Mellon
determines in its sole discretion. In each case, CIBC Mellon will
convert, or cause to be converted, any proceeds denominated in
Canadian dollars into US dollars at the prevailing exchange rate on
the date of distribution and, net of any expenses incurred by CIBC
Mellon in connection with such conversion, distribute all proceeds
in US dollars to non-qualified holders on a pro rata basis. CIBC
Mellon will mail cheques representing the net proceeds, without
interest, from such sales. For holders residing outside Canada and
the United States and holding rights through a securities broker,
dealer, bank, trust company or other custodian, their securities
broker, dealer, bank, trust company or other custodian may consider
selling any rights for the benefit of those holders - to the extent
permitted under arrangements with those holders and applicable law
- and to remit the net proceeds to those holders' accounts.
This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities; nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Ivanhoe Mines (www.ivanhoemines.com)
Ivanhoe Mines (NYSE: IVN)(NASDAQ: IVN)(TSX: IVN) is an
international mining company with operations focused in the Asia
Pacific region. Assets include the company's 66% interest in the
world-scale, Oyu Tolgoi copper-gold mine development project in
southern Mongolia; its 57% interest in Mongolian coal miner
SouthGobi Resources (TSX: SGQ)(SEHK: 1878); a 62% interest in
Ivanhoe Australia (TSX: IVA)(ASX: IVA), a
copper-gold-uranium-molybdenum-rhenium exploration and development
company; and a 50% interest in Altynalmas Gold Ltd., a private
company developing the Kyzyl Gold Project in Kazakhstan.
Forward-looking statements
Certain statements made herein, including statements relating to
matters that are not historical facts and statements of our
beliefs, intentions and expectations about developments, results
and events which will or may occur in the future, constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation and "forward-looking statements"
within the meaning of the "safe harbour" provisions of the United
States Private Securities Litigation Reform Act of 1995.
Forward-looking information and statements are typically identified
by words such as "anticipate", "could", "should", "expect", "seek",
"may", "intend", "likely", "plan", "estimate", "will", "believe"
and similar expressions suggesting future outcomes or statements
regarding an outlook. These include, but are not limited to,
whether or not the above contemplated rights offering will be
successfully completed in the future and other statements that are
not historical facts.
All such forward-looking information and statements are based on
certain assumptions and analyses made by Ivanhoe Mines' management
in light of their experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors management believes are appropriate in the
circumstances. These statements, however, are subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
in the forward-looking information or statements. Important factors
that could cause actual results to differ from these
forward-looking statements include those described under the
heading "Risk Factors" included in the rights offering prospectus
or in the Company's Annual Information Form, which are filed on
Sedar and EDGAR. The reader is cautioned not to place undue
reliance on forward-looking information or statements.
The issuer has filed a registration statement (including a
prospectus) with the SEC for the rights offering to which this
communication relates. Before investing, individuals should read
the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information
about the issuer and the rights offering. The documents are
available free of charge by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, the issuer or dealer managers
participating in the rights offering will arrange to send you the
prospectus if you request it by calling toll-free
1-877-858-5407.
Contacts: Ivanhoe Mines Ltd. Bill Trenaman Investors
+1.604.688.5755 Ivanhoe Mines Ltd. Bob Williamson Media
+1.604.331.9830 www.ivanhoemines.com
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