VANCOUVER, March 16, 2018 /CNW/ - International Tower Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE-AMERICAN: THM) today announced that it has filed its audited Year-End Financial Statements and associated Management Discussion and Analysis (MD&A) on Form 10-K for the year ended December 31, 2017.
As of December 31, 2017, the Company had working capital of $2.0 million.
As reported on March 14, 2018, the Company completed a non-brokered private placement on March 13, 2018 pursuant to which it issued 24,000,000 common shares at $0.50 per share for gross proceeds of $12.0 million. The Company intends to use the funds for continuation of optimization studies to further improve and de-risk the Project, required environmental baseline studies, and for general working capital purposes.
Shareholders can obtain copies of the Company's audited Year End Financial Statements and associated Management Discussion and Analysis and Form 10-K on SEDAR at: www.sedar.com, EDGAR at www.sec.gov and on the Company's website at: www.ithmines.com. The Company 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 100% of 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 L. Hanneman
Chief Executive Officer
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.
SOURCE International Tower Hill Mines Ltd.
For further information: Contact Information: Richard Solie, Jr., Manager - Investor Relations, E-mail: [email protected], Direct line: 907-328-2825, Toll-Free: 1-855-428-2825