---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-006121"
form_type: "8-K"
ticker: "IE"
cik: "0001879016"
company_name: "Ivanhoe Electric Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:57:40.899076+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ivanhoe Electric signs $120.5M deal to acquire 6,205 acres for Santa Cruz Copper Project

## Summary
- Acquires 6,205 acres of private land and water rights in Pinal County, Arizona for $120.5M.
- Payment: $5M deposit, $34.3M at closing (May 2023), $34.3M six months later, then four $13M annual installments at Prime+1%.
- Closing expected on or before May 23, 2023; seller gets 15-year right of first refusal on the property.
- Land is for the Santa Cruz Copper Project near Casa Grande; Ivanhoe also holds option to acquire mineral rights by 2024.
- If mine construction starts before final payment, full outstanding balance becomes due immediately.

## SEC filing metadata
- accession: 0001654954-23-006121
- form_type: 8-K
- ticker: IE
- cik: 0001879016
- company_name: Ivanhoe Electric Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879016/000165495423006121/0001654954-23-006121-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879016/000165495423006121/ie_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-006121
- JSON: https://secwatch.observer/filing/0001654954-23-006121.json
- Plain text: https://secwatch.observer/filing/0001654954-23-006121.txt

## Key facts
- Debt Financings
  Ivanhoe Electric Inc. incurred loan with Wolff-Harvard Ventures, LLC at prime plus 1%.
  - Instrument: loan
  - Counterparty: Wolff-Harvard Ventures, LLC
  - Rate: prime plus 1%
  - Event: incurrence
  source text: The Second Payment and the Remaining Balance shall be secured by a promissory note and a deed of trust substantially in the form attached to the Agreement, with an interest rate of prime plus 1%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879016/000165495423006121/0001654954-23-006121-index.htm
- Material Agreements
  Ivanhoe Electric Inc. entered into Purchase and Sale Agreement with Wolff-Harvard Ventures, LLC valued at $120.5 million (effective 2023-05-10).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Wolff-Harvard Ventures, LLC
  - Value: $120.5 million
  - Effective: 2023-05-10
  source text: On May 10, 2023, Mesa Cobre Holding Corporation (“Mesa Cobre”), a wholly-owned subsidiary of Ivanhoe Electric Inc. (the “Company”), entered into a binding Purchase and Sale Agreement (the “Agreement”) with Wolff-Harvard Ventures, LLC (“Wolff-Harvard”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879016/000165495423006121/0001654954-23-006121-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.