International Tower Hill Mines Announces US$3.9 Million Non-Brokered Private Placement to Advance Livengood Gold Project with Antimony Study
Summary
The Private Placement was taken up by current institutional shareholders of the Company, Paulson & Co. Inc., Electrum Strategic Opportunities Fund II L.P. and Kopernik Global Investors, LLC on behalf of itself and affiliates. The Company intends to use the net proceeds of the Private Placement for working capital and general corporate purposes, including advancing antimony metallurgical studies. In addition, changing world geopolitics have resulted in increased awareness in the United States of the importance of critical and strategic minerals, including antimony, for our national defense and economy. The forward-looking statements in this press release, including statements regarding the financing, the total investment amount raised in connection with the financing, the use of proceeds, and estimates of the quality and quantity of the mineral resources at the Livengood Gold Project, including gold and antimony, and potential need for antimony in the United States, are based upon the Companys current expectations and involve assumptions that may never materialize or may prove to be incorrect. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable securities laws.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.