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Ivanhoe Energy Inc. (TSX:IE.to
- News) announced today that
the company has made an application to extend the expiry date of 12,410,000 unlisted
outstanding common share purchase warrants for 30 days. The application is
subject to the approval of the Toronto Stock Exchange. The extension would
exclude 90,000 warrants held by an insider of Ivanhoe Energy.
Ivanhoe Energy issued these specific
unlisted common share purchase warrants in two tranches on January 26, 2010 and February 25,
2010 for 10,416,667 and 2,083,333 warrants, respectively, by way of a
special warrant private placement. These warrants are scheduled to expire on January 26, 2011 however, subject to the approval of
the Toronto Stock Exchange, they would expire on February 25, 2011. No other terms of the warrants have
been affected. Each warrant entitles the holder to acquire one common share
of the company at a price of Cdn$3.16.
Ivanhoe Energy Inc. is an independent,
international heavy oil development and production company focused on
pursuing long-term growth in its reserves and production using advanced
technologies, including its proprietary, patented heavy to light upgrading
process (HTL™). Core operations are in Canada,
Ecuador, China
and Mongolia, with business development
opportunities worldwide. Ivanhoe's shares trade on the NASDAQ Capital Market
with the ticker symbol IVAN and on the Toronto
Stock Exchange under the symbol IE.
FORWARD-LOOKING STATEMENTS: This
document includes forward-looking statements, including forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include, but are not limited to,
statements which are not historical facts. When used in this document, the
words such as "could," "plan," "estimate,"
"expect," "intend," "may,"
"potential," "should," and similar expressions relating
to matters that are not historical facts are forward-looking statements.
Although Ivanhoe Energy believes that its expectations reflected in these
forward-looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Important factors that
could cause actual results to differ from these forward-looking statements
include risks disclosed in Ivanhoe Energy's Annual Report on Form 10-K filed
with the U.S. Securities and Exchange Commission on EDGAR and the Canadian
Securities Commissions on SEDAR.
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