Oskar Lewnowski - Aug 18, 2022 Form 4 Insider Report for Ivanhoe Electric Inc. (IE)

Role: Director
Signature: /s/ Oskar Lewnowski
Stock symbol: IE
Transactions as of: Aug 18, 2022
Transactions value $: -$13,999,770
Form type: 4
Date filed: 8/24/2022, 08:19 PM
Previous filing: Jul 1, 2022
Next filing: Dec 23, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IE	Common Stock	Conversion of derivative security		+868K	+15.47%		6.48M	Aug 18, 2022	By Orion Mine Finance Fund III LP	F1, F2
transaction	IE	Common Stock	Conversion of derivative security		+946K	+14.59%		7.43M	Aug 18, 2022	By Orion Mine Finance Fund III LP	F1, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IE	I-Pulse Convertible Notes	Conversion of derivative security	-$4M				0	Aug 18, 2022	Common Stock	868K	$4.69	By Orion Mine Finance Fund III LP	F1, F2
transaction	IE	Share Exchange Option	Conversion of derivative security	-$10M				0	Aug 18, 2022	Common Stock	946K	$10.58	By Orion Mine Finance Fund III LP	F1, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F2	Upon the consummation of an initial public offering ("IPO") that resulted in gross proceeds of at least $25 million (a "Qualifying IPO"), which was consummated by the Issuer on June 27, 2022, the I-Pulse Convertible Notes, including any accrued but unpaid interest, became exchangeable, in whole or in part, at the option of the holder, into shares of common stock currently held by I-Pulse at a price per share equal to the lesser of (A) 80% of the gross price per share at which common stock is sold in the Qualifying IPO, and (B) $4.6929 per share of common stock (as adjusted for the reverse stock split).
F3	On March 30, 2022, Orion Mine Finance Fund III LP ("Orion") entered into a share exchange option agreement with I-Pulse, Inc. ("I-Pulse"). Following any Qualifying IPO, but prior to the 30th day after a shelf registration statement has become effective under the Securities Act of 1933, Orion is entitled to deliver to I-Pulse up to $10 million of shares of common stock of High Power Exploration Inc., a subsidiary of I-Pulse, and receive in exchange shares of common stock of Ivanhoe Electric Inc. (the "Company") currently held by I-Pulse.
F4	The conversion price is equal to 90% of the IPO price of the common stock of the Company, since a Qualifying IPO occurred on or before September 30, 2022.