News to Focus on International Tower Hill Mines Ltd (NYSEAMERICAN:THM)

The Canada based company International Tower Hill Mines Ltd (NYSEAMERICAN:THM) closed with change of -4.15% to $0.45 with the total traded volume of 72131 shares versus to an average volume of 189.18K. The stock in the 5 days activity was 0.00%. The one month performance of stock was -0.95%. THM shares are above 38.91% for the quarter and driving a -11.23% over the course of the past year and is now up 4.65% since this point in 2018.  Right now THM beta is -1.2. The average volatility for the week and month was at 5.54% and 7.24% respectively.

International Tower Hill Mines Ltd. (TSX: ITH, NYSE-American: THM) (“ITH” or the “Company”) announced that it has completed a non-brokered private placement (the “Offering”) pursuant to which it has issued 24,000,000 common shares (14.8% of the 162.4 million shares currently issued and outstanding) at a price of US $0.50 per share for aggregate gross proceeds of US $12 million.

The Company intends to use the proceeds of the Offering for the continuation of optimization studies in efforts to further improve and de-risk the Livengood Gold Project, required environmental baseline studies, and for general working capital purposes.

Under the Offering, an institutional shareholder that is new to the Company, Electrum Strategic Opportunities Fund II, L.P. (“Electrum”), an investment fund managed by The Electrum Group LLC., acquired 19,894,528 shares. The balance of the shares were taken by an existing institutional shareholder of the Company, Paulson & Co. Inc. (“Paulson”), which acquired 4,105,472 shares.  Following completion of the Offering, Paulson will own 32.0% of the issued and outstanding shares, while Electrum will hold 10.7%.

The Company also announced that it appointed Stuart Harshaw to the Company’s board of directors effective April 1, 2018, and intends to nominate Company CEO Karl Hanneman to stand for election to the board of directors at the forthcoming annual general meeting.  Mr. Harshaw is a seasoned mining executive with a successful international career at Vale and Inco.  He earned a BS in Metallurgical Engineering from Queen’s University and an MBA from Laurentian University.

Marcelo Kim, the Chair of the Board, said “We are delighted to welcome Electrum as a new shareholder of ITH and Mr. Harshaw to the Board. This financing uniquely positions ITH with sufficient financial resources for the next 4 to 5 years as we continue to advance the Livengood Gold Project towards one day becoming one of North America’s biggest gold mines.”

Shares of International Tower Hill Mines Ltd. have been recently spotted trading -33.07% off of the 52-week high price. On the other end, company shares have been noted 54.80% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 0.29 – 0.67. Switching over to some distances from popular moving averages, we see that the stock has been recorded -4.12% away from the 50 day moving average and -6.69% away from the 200 day moving average. Moving closer, we can see that shares have been trading -5.51% off of the 20-day moving average.

Warren Becky

Warren Becky

Warren Becky joined us, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Warren is the Senior Editor and market movers section. He also holds an MBA from Penn State University. He has two daughter and two children. Address: 2129 Maud Street, ESKO, Minnesota Email: Zip Code: 55733 Contact number: 302-722-7537

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