May 20 Ivanhoe Mines Ltd said on Tuesday it has entered into agreements to raise C$150 million ($137.65 million) in a share and warrants offering. The funds would be used to develop its mining projects in the Democratic Republic of Congo.
Ivanhoe said C$125 million of the funds would come from a bought deal with a syndicate of investment banks. The remaining C$25 million would be raised in a private placement with Robert Friedland, Ivanhoe's founder and chairman.
($1 = 1.0898 Canadian Dollars) (Reporting by Nicole Mordant in Vancouver; Editing by Bernard Orr)