Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/ivanhoe-receives-us22-million-short-term-loan-from.shtmlIvanhoe receives US$2.2 million short-term loan from Executive Co-Chairman
Ivanhoe Energy Inc. says that its working capital has been augmented by a US$2.2 million (approximately C$2.4 million) secured bridge loan
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Ivanhoe Energy Inc. says that its working capital has been augmented by a US$2.2 million (approximately C$2.4 million) secured bridge loan provided by founder and Executive Co-Chairman, Robert Friedland.
In addition, concurrent with the advancing of the bridge loan, Mr. Friedland also has resigned as the Executive Co-Chairman and as a director of the company. Mr. Friedland remains the largest shareholder of the company, owning 16.78% of the issued and outstanding common shares, as well as remaining a holder of US$7.0 million principal amount of the company's outstanding convertible debentures.
