Business
International Tower Hill Mines Closes CAD 8.4 Million Non-Brokered Private Placement
VANCOUVER , Dec. 12, 2014 /CNW/ - International Tower Hill Mines...
About this update from International Tower Hill Mines Ltd.
[{"type":"text","content":"\n\n\n \n\n \n\n \n \n \n\nVANCOUVER, Dec. 12, 2014 /CNW/ - International Tower Hill Mines Ltd. (TSX: ITH, NYSE MKT: THM, Frankfurt: IW9) (\"ITH\" or the \"Company\") announces that on December 11, 2014 it closed its previously announced non-brokered private placement financing (the \"Offering\") of 18,245,000 common shares of the Company at a price of CAD 0.46 per common share for gross proceeds of approximately CAD 8.4 million.  \n\n\"We are pleased to complete this financing, as it will provide ITH with cash well into 2016 and allow us to continue optimizing and improving the Livengood Gold Project\" said Tom Irwin, CEO.\n\nAll common shares issued in the Offering will be subject to a hold period in Canada of four months plus one day from the closing of the Offering.  The common shares will also 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 advancement of its optimization studies at the Livengood Gold project in Alaska as well as for general working capital purposes.\n\nThe 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.\n\nAbout International Tower Hill Mines Ltd.\n\nInternational Tower Hill Mines Ltd. controls 100% of the Livengood Gold Project that contains 15.7 M oz. of gold (807 MT at 0.61 g/t) measured & indicated and 4.4 M oz. (266 MT at 0.52 g/t) inferred, all at a 0.30 g/t gold cutoff located along the paved Elliott Highway, 70 miles north of Fairbanks, Ala...