International Tower Hill Mines Announces US$2.5 Million Non-Brokered Private Placement
Suite 2710 - 200 Granville Street
Vancouver, BC
Canada V6C 1S4
Tel: 604.683.6332
Fax: 604.408.7499
www.ithmines.com
NR24-01 January 22, 2024
International Tower Hill Mines Announces US$2.5 Million
Non-Brokered Private Placement
Vancouver, British Columbia, January 22, 2024 – International Tower Hill Mines Ltd. (the “Company”) -
(TSX: ITH) (NYSE American: THM) today announced that it has completed a non-brokered private placement
(the “Private Placement”) pursuant to which it has i ssued common shares to existing major shareholders to
raise gross proceeds of approximately USD $2.5 million.
The Private Placement consisted of 3,807,911 comm on shares of the Company, representing approximately
1.9% of the 195.9 million common shares issued and out standing prior to the completion of the Private
Placement, at a price of USD$0.664 per common share, the closing price of the Company's common shares
on the NYSE American on January 12, 2024. The Priv ate Placement was taken up by current institutional
shareholders of the Company, Paulson & Co. Inc., Sprott Asset Management USA, Inc., and Kopernik Global
Investors, LLC on behalf of Heptagon plc Kopernik Global All-Cap Equity Fund. 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.
Karl Hanneman, Chief Executive Officer, said “This m odest financing was completed with respect for our
current shareholders to minimize dilution and reflects our low G&A e xpenses as we position the Livengood
Gold Project to respond to a strong gold market. We remain appreciative of our major shareholders who
recognize the great leverage that the Livengood Gold Project offers in a rising gold market, given the size of
the gold resource, its unique and positive fundamentals, and our land status and proximity to Fairbanks.”
The Private Placement has received the required regulatory approvals including approval of the Toronto Stock
Exchange and the NYSE American. All common shares issued in the Private Placement are subject to a hold
period in Canada of four months and one day from th e closing of the Private Placement. All common shares
issued in the United States will be subject to resale restrictions under U.S. federal and state securities laws.
As certain of the institutional shareholders qualify as re lated parties of the Company, the Private Placement
was a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority
Security Holders in Special Transactions (“MI 61-101”). The Company is relying upon exemptions from the
formal valuation and minority shareholder approval re quirements of MI 61-101 on the basis that the fair
market value of the shares issued to such shareholders does not exceed 25% of the Company’s current market
capitalization.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the common
shares issued in the Private Placement, nor shall there be any offer or sale of the common shares issued in the
Private Placement 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.
International Tower Hill Mines Ltd. - 2 - January 22, 2024
NR24-01 Continued
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. has a 100% interest in its Livengood Gold Project located along the paved
Elliott Highway, 70 miles north of Fairbanks, Alaska.
On behalf of
International Tower Hill Mines Ltd.
(signed) Karl L. Hanneman
Chief Executive Officer
Contact Information: Richard Solie, Jr., Manager - Investor Relations
E-mail: [email protected]
Direct line: 907-328-2825 Toll-Free: 1-855-428-2825
This news release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United
States.