By Simon Casey
May 20 (Bloomberg) -- Ivanhoe Mines Ltd., the mining
company founded by Robert Friedland, agreed to sell shares and
share warrants for a total of about C$150 million ($138 million)
to fund the development of two projects in the Democratic
Republic of Congo.
Ivanhoe sold shares and warrants in a so-called bought deal
for C$125 million, the Canadian company said today in a
statement. The sale was underwritten by BMO Capital Markets,
Canadian Imperial Bank of Commerce and Macquarie Group Ltd.
In a separate transaction, the company said it will also
sell about C$25 million of stock and warrants to Friedland.
Ivanhoe said May 15 it’s weighing options including the
spinoff of its Congo assets and its South African platinum
assets into separate companies. China National Gold Group Corp.
is in talks to buy a stake in Ivanhoe’s Kamoa copper project in
the Congo, people with knowledge of the matter said in March.
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