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International Tower Hill Mines completes US$2.5M non-brokered private placement

Date Closed

January 22, 2024

Lead Office



2.50 Million USD

On January 22, 2024, International Tower Hill Mines Ltd. ("ITH" or the "Company") completed a non-brokered private placement (the "Private Placement") pursuant to which it has issued common shares to existing major shareholders to raise gross proceeds of approximately US$2.5 million.

The Private Placement consisted of 3,807,911 common shares of the Company, representing approximately 1.9% of the 195.9 million common shares issued and outstanding prior to the completion of the Private Placement, at a price of USD$0.664 per common share.  The Company intends to use the net proceeds of the Private Placement for general working capital purposes. Following completion of the Private Placement, the Company has 199,693,442 common shares issued and outstanding.

ITH is a mineral exploration company that acquires and explores mineral properties in Canada and the United States. ITH is focused on the development of its 100% interest in the Livengood Gold Project that covers approximately 19,546 hectares located to the northwest of Fairbanks, Alaska.

McCarthy Tétrault LLP advised ITH with a team led by Robin Mahood that included Kara Bodie and Thomas Fung (Business).