Ivanhoe Electric subsidiary Cordoba signs $100M JV with JCHX for Alacran Project in Colombia

Ivanhoe Electric Inc.

JCHX acquires 50% of Cordoba's Alacran Project stake for total cash consideration of $100M.
Payments: $40M at closing (expected Q1 2023), $40M upon feasibility study and EIA submission, $20M upon EIA approval.
JCHX to provide $10M bridge loan to Cordoba before end of Dec 2022; Cordoba will repay $2.5M of short-term loans to Ivanhoe Electric.
Cordoba appointed operator; JCHX has right of first offer for EPC contracts and up to 100% of offtake at fair market value.
Closing subject to Cordoba shareholder/TSXV approval, JCHX board/shareholders/Chinese regulatory approvals.

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