International Tower Hill Mines Ltd.: Corvus Gold Inc. Spinout Effective; Corvus Shares to Trade on TSX on August 30, 2010
August 26 2010 - 4:44PM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX:
ITH)(NYSE Amex: THM)(FRANKFURT: IW9) announces that the previously
announced Plan of Arrangement, under which the Company will
spin-out its Alaska and Nevada projects (other than the Livengood
Project) to Corvus Gold Inc. ("Corvus"), became effective at 12:01
a.m. today, August 26, 2010.
The "new" common shares of the Company (CUSIP #46050R102) and
the common shares of Corvus (CUSIP #221013105) will each commence
trading on the Toronto Stock Exchange, effective at the opening, on
Monday August 30, 2010. The symbol for "new" ITH common shares is
"ITH" and the symbol for the common shares of Corvus is "KOR".
Concurrently, the "old" common shares of ITH (CUSIP #46051L104)
will be delisted.
The "new" common shares of ITH (CUSIP #46050R102) commenced
trading on the NYSE Amex effective at the opening today, August 26,
2010.
Please refer to the Company's press release dated August 23,
2010 and Information Circular dated July 9, 2010 for more detailed
information on the Plan of Arrangement, both of which are available
on SEDAR at www.sedar.com.
About Corvus Gold Inc.
Corvus Gold Inc. is a resource exploration company, focused in
Alaska and Nevada, which controls a number of exploration projects
representing a spectrum of early stage to the more advanced North
Bullfrog Project in Nevada. Corvus is committed to building
shareholder value through new discoveries while maintaining a
majority interest in its key holdings, thereby giving its
shareholders the maximum value for their investment.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is a resource exploration
company, focused in Alaska, which controls the advanced
multimillion ounce gold discovery at Livengood. ITH is committed to
building shareholder value through aggressively proceeding with the
ongoing development of the Livengood 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 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 as disclosed in the Company's annual information
form filed with Canadian securities commission 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.
NR10-30
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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