Ivanhoe Receives an Additional US$540,000 Short-term Loan from Robert Friedland

Source: www.gulfoilandgas.com 12/30/2014, Location: North America

Ivanhoe Energy Inc. announced that the company's working capital has been augmented by a further US$540,000 (approximately C$626,000) provided by founder Robert Friedland.

The new funds are in addition to the US$2.2 million (approximately C$2.4 million) secured bridge loan provided by Mr. Friedland in October 2014, details of which are contained in Ivanhoe Energy's October 10, 2014 news release, and brings the principal amount of Mr. Friedland's short-term loan to US$2.74 million.

The company will make additional disclosure respecting the status of its strategic and financial review process once the Board of Directors decides to pursue a specific transaction or series of transactions or otherwise determines that disclosure is necessary or appropriate. There can be no assurance that the current process will result in a transaction or, if a transaction is undertaken, that it will be successfully concluded in a timely manner or at all.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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