THM News & Events

International Tower Hill Mines announced the launch of a $60M public offering of common shares, without par value, of the company in the United States. In connection with the offering, Paulson & Co. has entered into an agreement to purchase $40M of common shares in a private placement at the public offering price of the offering. The company expects to use the net proceeds of the offering and the concurrent private placement to fund the exploration and development of the Livengood Gold Project, including drilling, metallurgical studies, feasibility studies, technical studies, baseline environmental studies, detailed engineering in support of permitting, permitting, legal support, community engagement, mineral lease and land payments, acquisitions and general corporate purposes. The common shares will be offered by the company with BMO Capital Markets acting as lead book-running manager.

International Tower Hill Mines announced that it has completed a non-brokered private placement pursuant to which the company issued common shares to existing major shareholders to raise gross proceeds of approximately $3.9M to be used in part to study the massive stibnite antimony mineralization at the Livengood Gold Project. The Private Placement consisted of 8,192,031 common shares of the company, representing approximately 4.1% of the 199.7M shares issued and outstanding prior to the completion of the Private Placement, at a price of $0.4801 per share, the closing price of the company's common shares on the NYSE American on February 25. The Private Placement was taken up by current institutional shareholders of the company, Paulson & Co. Inc., Electrum Strategic Opportunities Fund II L.P. and Kopernik Global Investors, LLC on behalf of itself and affiliates. The company intends to use the net proceeds of the Private Placement for working capital and general corporate purposes, including advancing antimony metallurgical studies. Following completion of the Private Placement, the company has 207,885,473 common shares issued and outstanding.