Ivanhoe Electric expects distribution from Cordoba

Executive Summary

• Ivanhoe Electric Inc. is set to receive a $58.4 million cash distribution from its subsidiary, Cordoba Minerals Corp., following the sale of Cordoba's remaining 50% interest in the Alacran project in Colombia.
• The distribution stems from the $128 million gross proceeds from the Alacran sale, with Cordoba distributing $1.01 per common share to registered shareholders as of March 20, 2026.
• This influx of capital, combined with recent warrant exercise proceeds and an undrawn bridge facility, significantly strengthens Ivanhoe Electric's liquidity position, bringing total cash and equivalents to approximately $231.7 million.

Key Details

• Distribution Amount: Ivanhoe Electric is entitled to approximately $58.4 million in cash from Cordoba Minerals Corp.
• Ownership Stake: Ivanhoe Electric owns 57,855,427 common shares of Cordoba, representing a 59.6% ownership interest.
• Distribution Terms: The final cash amount is $1.01 per Cordoba common share.
• Record Date: March 20, 2026 (close of business).
• Payment Date: On or about March 25, 2026.
• Source of Funds: Cordoba closed the sale of its remaining 50% interest in the Alacran project in Colombia for total cash proceeds of $128 million.
• Net Proceeds Calculation: Net cash proceeds remaining after settling outstanding liabilities/obligations and retaining $10 million for continuing corporate purposes were distributed to shareholders.
• Ivanhoe Electric Cash Position (Dec 31, 2025): $173.3 million in cash and cash equivalents.
• Recent Warrant Proceeds: $82.6 million received from the exercise of all outstanding warrants associated with the Feb. 14, 2025, equity financing.
• Liquidity Enhancement: The $58.4 million distribution further strengthens liquidity, supported by an undrawn $200 million senior secured multidraw bridge facility.

Notable Quotes

• "Cash distribution from Cordoba will enhance Ivanhoe Electric's already-strong liquidity position."