VANCOUVER, March 15, 2017 /CNW/ - International Tower Hill Mines Ltd. (TSX: ITH, NYSE-MKT: THM) ("ITH" or the "Company") today announced that is has filed its audited year-end financial statements and associated management discussion and analysis and year-end report on Form 10-K for the year ended December 31, 2016.
The Company's working capital at December 31, 2016 was USD 7.6 million (after allowing for payment of the derivative liability of USD 14.7 million in January 2017) which is expected to allow ITH to advance the Livengood Gold Project through 2017.
Shareholders can obtain copies of the Company's annual financial statements and associated management's discussion and analysis and Form 10-K on SEDAR at www.sedar.com, EDGAR at www.sec.gov and on ITH's website at www.ithmines.com. ITH will also provide hard copies of these documents, free of charge, to shareholders who request a copy directly from the Company.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls a 100% interest in the 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 Hanneman
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 US securities legislation. All statements, other than statements of historical fact, included herein, including statements with respect to the proposed use of the proceeds of the December 2016 private placement by the Company, the ability of the Company to carry out and complete optimization studies with respect to the Livengood Gold Project, the potential for the results of the 2017 work program to have a positive effect on the 2016 PFS economics, and the magnitude of the anticipated effects, the ability of the Company to advance the Livengood Gold Project, the potential development of any mine at Livengood, 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 outcome of the expected remedial de-listing review by the TSX, the use of proceeds from the December 2016 private placement, the potential inability of the Company to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's annual report on Form 10-K and other reports filed with the United States Securities and Exchange Commission (the "SEC"), and certain securities commissions in Canada 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 latest technical report filed with respect to the Company's Livengood Gold Project.
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 or Canada.
SOURCE International Tower Hill Mines Ltd.
For further information: Richard Solie, Jr., Manager - Investor Relations, E-mail: [email protected], Direct line: 907-328-2825 / Toll-Free: 1-855-428-2825