International Tower Hill Mines Ltd. Closes Final Tranche of CAD 30,000,000 Non-Brokered Equity Financing
April 06 2010 - 7:33PM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") -
(TSX: ITH)(NYSE Amex: THM)(FRANKFURT: IW9) is pleased to announce
that it has closed the final tranche of its non-brokered financing
of 5,000,000 common shares of the Company at a price of CAD 6.00
per common share (the "Offering") announced on March 16, 2010. On
April 6, 2010, the Company issued an aggregate of 664,210 common
shares for aggregate gross proceeds of CAD 3,985,260 to AngloGold
Ashanti (U.S.A.) Exploration Inc. under its preferential right to
participate in accordance with its current equity interest in the
Company.
The net proceeds from the Offering are anticipated to be used by
the Company for the pre-feasibility study on the Livengood Gold
project in Alaska and general working capital.
All common shares issued in the Offering will have a hold period
in Canada of four months and a day from the closing of the
Offering. All common shares issued in the United States will be
subject to resale restrictions under U.S. federal and state
securities laws.
The common shares have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, (the "U.S. Securities
Act"), or any applicable state securities laws, and may not be
offered or sold in the United States absent such registration or
pursuant to an applicable exemption from such registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the common shares, nor
shall there be any offer or sale of the common shares 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.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is a resource exploration
company, focused in Alaska and Nevada, which controls a number of
exploration projects representing a spectrum of early stage to
advanced exploration projects, including the Livengood Gold
project.
On behalf of International Tower Hill Mines Ltd.
Jeffrey A. Pontius, President and Chief Executive Officer
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 27E of
the Exchange Act. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the proposed use of the proceeds of the
Offering by the Company, are forward-looking statements. Although
the Company believes that such statements are reasonable, it can
give no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, risks associated
with the timing and pricing of the Offering, completion of the
Offering, regulatory approval/acceptance of the Offering, and the
use of proceeds from the Offering. Other risks and uncertainties
are disclosed in the Company's annual information form filed with
certain Canadian securities commissions and its annual report on
Form 40-F filed with the United States Securities and Exchange
Commission, and other information released by the Company and filed
with the appropriate regulatory agencies. All of the Company's
Canadian public disclosure filings may be accessed via
www.sedar.com and its United States public disclosure filings may
be accessed via www.sec.gov, and readers are urged to review these
materials, including the technical reports filed with respect to
the Company's mineral properties.
NR10-11
Contacts: International Tower Hill Mines Ltd. Quentin Mai
Vice-President - Corporate Communications 1-888-770-7488 (toll
free) or (604)683-6332 (604) 408-7499 (FAX)
qmai@internationaltowerhill.com www.internationaltowerhill.com
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