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Ivanhoe Mines Replaces Outstanding $76-million Loan Receivable from High Power Exploration with Equity Investment in I-Pulse, Its Parent Company
Ivanhoe Mines to join BHP as an investor in I-Pulse, a global leader in pulsed-power technology ...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Replaces Outstanding $76-million Loan Receivable from High Power Exploration with Equity Investment in I-Pulse, Its Parent CompanyIvanhoe Mines to join BHP as an investor in I-Pulse, a global leader in pulsed-power technologyIvanhoe Mines intends to enter into collaboration agreement with I-ROX, an I-Pulse subsidiary, to investigate and develop applications for pulsed-power technology in the mining sectorKamoa-Kakula Copper Complex to commence test program with I-ROX, targeting improved copper recoveriesLondon, United Kingdom--(Newsfile Corp. - June 15, 2023) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announce today that an agreement has been reached to replace the outstanding convertible loan balance owed to Ivanhoe Mines by High Power Exploration (HPX) into an equity investment in I-Pulse Inc. (I-Pulse), HPX's parent company. I-Pulse, a private American company, is a global leader and developer of pulsed-power technology with its research facilities based in Toulouse, France.Pulsed-power is a technology that releases the equivalent power output of a nuclear power station in a billionth of a second. The technology has already found commercial application in high-speed metal forming and welding, as well as in mineral exploration.Ivanhoe extended a $50 million convertible loan to HPX on April 25, 2019. As at May 31, 2023, the loan balance including accrued interest totaled approximately $76 million. Under the new agreement, Ivanhoe will transfer all convertible loan obligations from HPX to I-Pulse, in exchange for the issuance of common shares in I-Pulse to Ivanhoe. Ivanhoe will also receive certain investor rights, including a pre-emptive right to maintain its percentage ownership in I-Pulse in the event of an equity financing, which ceases upon an initial public offering of I-Pulse securities.Watch a video introducing I-Pulse's proprietary technology: https://vimeo.com/836258943/8dcc5db181?share=copy.https://vimeo.com/836258943/8dcc5db181?share=copyCollaboration agreement being developed between Ivanhoe Mines and I-Pulse subsidiary, I-ROXI-ROX SAS (I-ROX), a subsidiary of I-Pulse, is focused on the deployment of I-Pulse technology to transform the processes of crushing and grinding mineral ores in the mining industry. I-ROX was established in ...