Ivanhoe Electric Prices $150M Public Offering to Fund Santa Cruz Project

Ivanhoe Electric Inc. has announced an underwritten public offering of 10,000,000 shares of its common stock priced at US per share, with gross proceeds expected to be approximately US , before deductions. The company has also granted underwriters a 30-day option to purchase up to an additional 1,500,000 shares at the public offering price, less underwriting discounts and commissions. The offering, expected to close on October 23, 2025, aims to raise approximately US$125 million and is subject to market and other conditions, with no assurance of completion or final terms. Net proceeds from the offering will be used to complete payments for land acquisition at the Santa Cruz Copper Project in Arizona, fund early development and exploration activities at current projects and joint ventures, and support general corporate purposes. BMO Capital Markets is the lead book-running manager, with J.P. Morgan and National Bank of Canada Capital Markets as book-running managers. The offering is made pursuant to a registration statement filed with the SEC, with related prospectus documents available on the SEC's website and from BMO Capital Markets.