The Toronto Stock Exchange reports that it has conditionally approved the listing of Ivanhoe Electric Inc.'s common shares, subject to the completion of a proposed initial public offering, as described in the company's amended and restated preliminary base PREP prospectus dated June 16, 2022. According to the TSX, the company expects to file a final base PREP prospectus and a supplemented PREP prospectus for the offering in the next few days. As soon as possible after the final base PREP prospectus is cleared by the relevant securities regulatory authorities and a supplemented PREP prospectus is filed, the TSX will post the shares for trading on an if, as and when-issued basis under the symbol IE and with Cusip No. 46578C 10 8. Before the shares are posted for trading on such basis, the TSX will issue a bulletin to confirm both the pricing and the expected closing date for the offering.

The TSX reports that subject to the closing of the offering: (i) all trades in the Ivanhoe Electric shares on and before the third trading day preceding the closing date will be for special settlement on the closing date and will appear on the settlement report from CDS Clearing and Depository Services Inc.; and (ii) all trades in the shares for each of the two trading days preceding the closing date will be for special settlement two business days after the trade date and will appear on the settlement report from CDS. If the offering does not close, all of the if, as and when-issued trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers. If and when the offering closes, there will be no further trading in the company's shares on an if, as and when-issued basis, and the shares issued at such closing will trade on a regular settlement basis.

According to the TSX, Ivanhoe Electric is a United States-domiciled minerals exploration and development company with a focus on developing mines from mineral deposits principally located in the U.S. The company does not intend to pay dividends on its shares in the foreseeable future. Its transfer agent and registrar is Computershare Investor Services Inc. at its offices in Canton, Mass., and Vancouver, B.C. Its fiscal year-end is Dec. 31 and the temporary market-maker is Citadel Securities Canada ULC.

As stated in its preliminary prospectus, Ivanhoe Electric will issue 14,388,000 shares to the public, at an offering price expected to be between $11.75 (U.S.) and $12.50 (U.S.) per share, for gross proceeds to the company of approximately $169-million (U.S.) to $180-million (U.S.). The company has also granted the underwriters an option to purchase up to an additional 2,158,200 shares at a price equal to the public offering price, to cover overallotments, if any, up to 30 days following the date of the final base PREP prospectus. The syndicate of underwriters in Canada comprises BMO Nesbitt Burns Inc., Jefferies Securities Inc., J.P. Morgan Securities Canada Inc., Raymond James Ltd., RBC Dominion Securities Inc. and Scotia Capital Inc., and the syndicate of underwriters in the U.S. comprises BMO Capital Markets Corp., Jefferies LLC, J.P. Morgan Securities LLC, Raymond James & Associates Inc., RBC Capital Markets LLC, and Scotia Capital (USA) Inc.