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Ivanhoe Recieves Further Funding from Founder
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Ivanhoe Energy Inc. has 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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