---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-007131"
form_type: "8-K"
ticker: "IE"
cik: "0001879016"
company_name: "Ivanhoe Electric Inc."
filed_at: "2023-05-24T23:59:59+00:00"
generated_at: "2026-06-14T16:14:06.808174+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 closes $116.86M private land acquisition at Santa Cruz Copper Project

## Summary
- Final purchase price reduced by $3.63M to $116.86M; acreage adjusted to 5,975 acres.
- Paid $34.3M at closing; issued $82.6M secured promissory note at prime+1% over 4.5 years.
- Acquired surface land and water rights; option to acquire mineral titles by 2024.
- Expects to release initial economic assessment for Santa Cruz Project in Q3 2023.

## SEC filing metadata
- accession: 0001654954-23-007131
- form_type: 8-K
- ticker: IE
- cik: 0001879016
- company_name: Ivanhoe Electric Inc.
- filed_at: 2023-05-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879016/000165495423007131/0001654954-23-007131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879016/000165495423007131/ie_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-007131
- JSON: https://secwatch.observer/filing/0001654954-23-007131.json
- Plain text: https://secwatch.observer/filing/0001654954-23-007131.txt

## Key facts
- Debt Financings
  Ivanhoe Electric Inc. incurred credit facility of $82,590,284 with Wolff-Harvard Ventures, LP at prime plus 1% maturing four equal annual installments of approximately $12.1 million plus applicable interest on the first, second, third and fourth anniversary of the Second Payment.
  - Instrument: credit facility
  - Principal: $82,590,284
  - Counterparty: Wolff-Harvard Ventures, LP
  - Rate: prime plus 1%
  - Maturity: four equal annual installments of approximately $12.1 million plus applicable interest on the first, second, third and fourth anniversary of the Second Payment
  - Event: incurrence
  source text: On the Closing Date, Mesa Cobre paid $34.3 million of the Purchase Price to Wolff-Harvard LLC (inclusive of a previously paid $0.1 million exclusivity payment and a $5.0 million earnest money escrow deposit upon signing the Agreement) and issued a Secured Promissory Note to Wolff-Harvard Ventures, LP (“Wolff-Harvard LP”) in the principal amount of $82,590,284 with an interest rate of prime plus 1% (the “Promissory Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879016/000165495423007131/0001654954-23-007131-index.htm
- M&A Transactions
  Ivanhoe Electric Inc. completed an acquisition involving Wolff-Harvard Ventures, LLC for $116.86 million (closed 2023-05-23).
  - Action: acquisition
  - Counterparty: Wolff-Harvard Ventures, LLC
  - Consideration: $116.86 million
  - Closing: 2023-05-23
  source text: On May 23, 2023 (the “Closing Date”), Mesa Cobre Holding Corporation (“Mesa Cobre”), a wholly-owned subsidiary of Ivanhoe Electric Inc. (the “Company”), completed its previously announced acquisition of certain real property situated in Pinal County, Arizona and certain water rights, intangible property and surface access rights in exchange for aggregate consideration of $116.86 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879016/000165495423007131/0001654954-23-007131-index.htm

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