#Canada #Vancouver #Private Placement #International Tower Hill #Livengood Gold Project

International Tower Hill Mines Announces Funding Initiatives

International Tower Hill Mines Ltd. (TSX: ITH, NYSE American: THM), headquartered in Vancouver, British Columbia, has made a significant announcement that could alter its future trajectory. The company is set to launch a $60 million public offering of its common shares, alongside a $40 million private placement arranged through Paulson & Co. Inc. This strategic move is aimed at avant-garde funding, primarily targeted at advancing the overall development of the Livengood Gold Project located near Fairbanks, Alaska.

The proceeds from these fundraising activities are essential for several core initiatives. The capital will substantially support exploration efforts and development activities centered on the Livengood Gold Project. Moreover, it will facilitate critical processes including:

• - Drilling activities aimed at enhancing resource estimation and confirming gold deposits.
• - Execution of metallurgical studies to optimize extraction processes.
• - Preparation for ongoing feasibility and technical studies, essential for evaluating the economic viability of the project.
• - Conducting baseline environmental studies and thorough engineering designs that support necessary permitting processes.
• - Engaging with community stakeholders to ensure alignment and support for the project.
• - Covering legal support, mineral lease payments, and potential land acquisitions.

This public offering involves a lead book-running manager, BMO Capital Markets, which will also act as an underwriter for the deal. In conjunction, an underwriting agreement will facilitate this process, with the underwriters granted an option to purchase additional shares representing up to 15% of the total offering. If fully exercised, this could elevate the gross proceeds to around $109 million.

Regulatory Compliance and Documentation

The public offering follows the company's existing shelf registration statement effectively filed with the Securities and Exchange Commission (SEC). The offering will exclusively utilize materials compliant with Section 10 of the Securities Act of 1933. Investors can obtain the necessary documentation through the SEC's EDGAR database or directly from BMO Capital Markets. Furthermore, the offering may also be accessible in Canada and offshore in compliance with appropriate securities laws.

It’s crucial to note that while the company is moving forward with these funding strategies, completion of the concurrent private placement hinges on standard closing conditions, aligning with the broader offering strategy. However, it’s worth mentioning that the success of the public offering does not depend on the completion of the concurrent placement.

Risks and Forward-Looking Statements

In line with industry practices, this announcement includes forward-looking statements regarding the company’s expected outcomes, notably concerning the exploration and potential challenges it may face. Investors are cautioned to approach these projections with discernment due to inherent risks, such as variations in market conditions and operational costs, which could impact the exploration agenda.

About International Tower Hill Mines

International Tower Hill Mines Ltd. is focused on its flagship Livengood Gold Project, which showcases a promising future in gold mining and development. With a dedicated approach toward responsible mining and commitment to community engagement, the company continues to pursue its vision to capitalize on opportunities that enhance shareholder value while adhering to sustainable practices.

This announcement is pivotal for International Tower Hill Mines, marking a significant step in its efforts to secure necessary funding to push forward with its ambitious goals and plans for the Livengood Gold Project, a project anticipated to have monumental implications in the mining sector.