International Tower Hill Closes Second Tranche of Non-Brokered Equity Financing
September 18 2012 - 9:00AM
Marketwired
International Tower Hill Mines Ltd. (TSX:ITH)(NYSE MKT:THM)(NYSE
Amex:THM)(FRANKFURT:IW9) ("ITH" or the "Company") announces that it
is has closed the second tranche of its previously announced
non-brokered private placement financing (the "Offering") of common
shares to raise total gross proceeds of CAD 29.6 million.
The second tranche of the Offering consisted of the issuance of
1,926,411 common shares at a price of CAD 2.5955 per share
(representing a 10% discount from the five day volume weighted
average price for the common shares as at September 10, 2012) to
raise aggregate gross proceeds of CAD 5 million. The Company paid a
cash finder's fee of 4% in connection with the issuance of these
shares. The common shares issued in the second tranche of the
Offering will be subject to a hold period in Canada of four months
from the closing of the second tranche. All common shares issued in
the second tranche will be subject to resale restrictions under
U.S. federal and state securities laws.
The Company intends to use the net proceeds of the Offering for
the completion of its bankable Feasibility Study at the Livengood
Gold project in Alaska and for general working capital
purposes.
The common shares issued in the Offering have not been and will
not be registered under the U.S. Securities Act of 1933, as amended
(the "1933 Act") or any applicable securities laws of any state of
the United States and may not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons (as
defined in Regulation S under the 1933 Act) or persons in the
United States absent registration or 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
any of the common shares to be issued in the Offering, nor shall
there be any offer or sale of the common shares to be issued in the
Offering 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. controls a 100% interest in
the world-class Livengood Gold Project accessible by paved highway
70 miles north of Fairbanks, Alaska.
On behalf of International Tower Hill Mines Ltd.
Jeffrey A. Pontius, Interim Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and U.S.
securities legislation. 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, the potential completion of a bankable
feasibility study on the Livengood deposit, the Company's business
strategies, and the Company's other business and financing plans
and business trends, 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,
proposed, planned, potential 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, the use of proceeds from the
Offering and other risks and uncertainties disclosed in the
Company's Annual Information Form filed with certain securities
commissions in Canada and the Company's annual report on Form 40-F
as filed with the United States Securities and Exchange Commission
(the "SEC"), 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 Livengood Project.
This press release is not, and is not to be construed in any way
as, an offer to buy or sell securities in the United States.
NR12-26
Contacts: International Tower Hill Mines Ltd. Michelle Stachnik
Investor Relations Direct: 720-881-7646 Ext 203 or Toll-Free:
1-855-208-4642mstachnik@ithmines.com www.ithmines.com
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