Ivanhoe Electric Inc. entered into a Common Stock Subscription Agreement with Saudi Arabian Mining Company Ma?aden on October 23, 2023.The Company will sell to Ma?aden 1,513,650 shares of common stock of the Company at a purchase price of $13.50 per share for aggregate gross proceeds of approximately $20.4 million.There are no fees or commissions payable on the Ma?aden subscription.Closing is expected to occur on October 31, 2023, subject to the satisfaction of closing conditions set forth in the Subscription Agreement.