Current Report Filing (8-k)
September 01 2020 - 5:09PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report
(Date of earliest event reported): September 1, 2020
INTERNATIONAL TOWER HILL MINES LTD.
(Exact Name of Registrant as Specified in
Charter)
British Columbia, Canada
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001-33638
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N/A
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(State or Other Jurisdiction
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(Commission
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(IRS Employer
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of Incorporation)
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File Number)
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Identification No.)
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2300-1177 West Hastings Street
Vancouver, British Columbia, Canada
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V6E 2K3
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s telephone number, including
area code: (604) 683-6332
(Former Name or Former Address, if Changed
Since Last Report.)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered
pursuant to Section 12(b) of the Act:
Title
of each class:
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Trading
Symbol:
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Name of
each exchange on which registered:
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Common Shares, no par value
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THM
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NYSE American
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01 Entry into a Material Definitive
Agreement.
On August 31, 2020, International
Tower Hill Mines Ltd. (the “Company”) entered into an At Market Issuance Sales Agreement (the “sales
agreement”) with B. Riley Securities, Inc. (the “Distribution Agent”), pursuant to which the Company may
issue and sell its common shares from time to time through the Distribution Agent as the Company’s sales
agent. Sales of the Company’s common shares through the Distribution Agent, if any, will be made by any method that is
deemed to be an “at-the-market” equity offering as defined in Rule 415 promulgated under the Securities Act of
1933, as amended, pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-240276)
filed on July 31, 2020 with the Securities and Exchange Commission (“SEC”) and subsequently declared effective on
August 11, 2020, the base prospectus filed as part of such registration statement and the prospectus supplement dated
September 1, 2020.
Each time the Company wishes to issue
and sell common shares under the sales agreement, the Company will provide a placement notice to the Distribution Agent
containing the parameters in accordance with which shares are to be sold, including, but not limited to, the number of shares
to be issued and the dates on which such sales are requested to be made, subject to the terms and conditions of the sales
agreement. Subject to the terms and conditions of the sales agreement, the Distribution Agent will use commercially
reasonable efforts consistent with its normal trading and sales practices to sell the Company’s common shares from time
to time, based upon the Company’s instructions (including any price, time or size limits the Company may impose
pursuant to the terms of the sales agreement). The Company is not obligated to make any sales of common shares under the
sales agreement and may terminate the sales agreement at any time upon written notice. The Company will pay the Distribution
Agent a commission of 3% of the gross proceeds from each sale. The Company has provided the Distribution Agent with customary
indemnification rights.
The foregoing description of the sales agreement
is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is incorporated
by reference as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated in this Item 1.01 by reference. A copy of the
opinion of McCarthy Tétrault LLP relating to the legality of the shares of common stock that may be issued pursuant to the
sales agreement is attached as Exhibit 5.1 to this Current Report on Form 8-K.
This Current Report on Form 8-K shall not
constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer,
solicitation, or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such jurisdiction.
Item 9.01 Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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International Tower Hill Mines Ltd.
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(Registrant)
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Dated: September 1,
2020
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By:
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/s/ Karl Hanneman
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Name:
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Karl Hanneman
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Title:
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President and Chief Executive Officer
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