Ivanhoe Energy Inc. says that its working capital has been augmented by a US$2.2 million (approximately C$2.4 million) secured bridge loan provided by founder and Executive Co-Chairman, Robert Friedland.

In addition, concurrent with the advancing of the bridge loan, Mr. Friedland also has resigned as the Executive Co-Chairman and as a director of the company. Mr. Friedland remains the largest shareholder of the company, owning 16.78% of the issued and outstanding common shares, as well as remaining a holder of US$7.0 million principal amount of the company's outstanding convertible debentures.

Tags: Ivanhoe Energy Inc.