In the same category

Intl. Tower Hill Mines

Published : February 17th, 2011

International Tower Hill Receives Share Ownership Top-Up Notice from AngloGold Ashanti

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

http://www.corvusgold.com/_resources/ith/img_logo2.jpg

International Tower Hill Receives Share Ownership Top-Up Notice from AngloGold Ashanti for 230,764 Shares

International Tower Hill Mines Ltd. (�ITH� or the �Company�) - (TSX: ITH; NYSE-A: THM) is pleased to announce that AngloGold Ashanti (U.S.A.) Exploration Inc., a subsidiary of AngloGold Ashanti Limited (�AngloGold�), will exercise its right to maintain a 11.5039% equity interest in the Company through the purchase of 230,764 common shares.  Since August 11, 2010, AngloGold�s equity interest has been diluted by virtue of the Company�s issuance of shares principally due to the exercise of incentive stock options expiring in early 2011. 

As a consequence of AngloGold�s election to exercise its �top-up� right, the Company will sell to AngloGold, on a private placement basis, an aggregate of 230,764 common shares at a price of CAD$8.13 per share (reflecting the 5-day volume-weighted average price of the Company�s common shares on the TSX preceding February 16, 2011, less the maximum allowable discount of 15% as required by the provisions of the �top-up� right) for gross proceeds of CAD$1,875,419. 

The �top-up� provision, contained in the June 30, 2006, purchase agreement among AngloGold, the Company and Talon Gold Alaska, Inc., pursuant to which the Company acquired AngloGold�s Alaskan assets (including the Company�s flagship Livengood property), gives AngloGold the right, twice a year, to maintain its then current equity ownership percentage in the Company on an ongoing basis thereby avoiding dilution as a result of the issuance of shares by the Company in connection with property payments or warrant/option exercises.  AngloGold also has a separate right to participate in any equity financings by the Company up to its then pre-financing percentage equity interest.

The private placement is subject to execution of formal documentation and the acceptance for filing thereof by the TSX and NYSE-Amex on behalf of the Company.  The common shares issued in the private placement will be subject to a hold period in Canada expiring four months plus one day after closing.  The net proceeds from the private placement are anticipated to be used by the Company for continued work on the Livengood Gold Project in Alaska and general working capital.

The common shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the �1933 Act�), or any state securities laws, and are being issued pursuant to exemptions from registration requirements.

About International Tower Hill Mines Ltd.

International Tower Hill Mines controls a 100% interest in the world-class Livengood Gold Project accessible by paved highway 70 miles north of Fairbanks, Alaska.  The Company is focused on the rapid advancement of the project into a compelling potential development project in 2011 while it continues to expand its current resource and explore a land package spanning 145 km2 for new deposits.

On behalf of

international tower hill mines ltd.

(signed) Jeffrey A. Pontius

Jeffrey A. Pontius,
Chief Executive Officer
Contact Information: Shirley Zhou, Vice-President - Corporate Communications
E-mail:
szhou@ithmines.com
Phone: 1-888-770-7488 (toll free) or (604) 638-3247/Fax: (604) 408-7499

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated completion of the private placement to AngloGold Ashanti (U.S.A.) Exploration Inc. and the proposed use of the proceeds of the financing by the Company, 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 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 timing and pricing of the private placement. Other risks and uncertainties are disclosed in the Company's annual information form filed with Canadian securities commission and its annual report on Form 40-F filed with the United States Securities and Exchange Commission, 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 technical reports filed with respect to the Company's mineral properties.

http://www.corvusgold.com/_resources/ith/img_bottom.jpg

Click here to be removed from this list �

http://dissemination.blendermedia.com:81/db/68974/2989619/1.gif

Intl. Tower Hill Mines

DEVELOPMENT STAGE
CODE : ITH.TO
ISIN : CA46051L1040
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Intl. Tower Hill is a gold development stage company based in Canada.

Intl. Tower Hill develops gold and silver in USA, and holds various exploration projects in USA.

Its main asset in development is LIVENGOOD in USA and its main exploration properties are BMP, PAINTED HILLS and COFFE DOME in USA.

Intl. Tower Hill is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 126.5 millions as of today (US$ 101.1 millions, € 88.6 millions).

Its stock quote reached its lowest recent point on April 29, 2005 at CA$ 0.25, and its highest recent level on February 25, 2011 at CA$ 9.99.

Intl. Tower Hill has 162 190 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Intl. Tower Hill Mines
9/18/2012International Tower Hill Closes Second Tranche of Non-Broker...
7/19/2012International Tower Hill Increases Non-Brokered Private Plac...
7/12/2012International Tower Hill Announces Up To $25,000,000 Non-Bro...
2/17/2011International Tower Hill Receives Share Ownership Top-Up Not...
4/7/2010 Closes Final Tranche of CAD 30,000,000 Non-Brokered Equity ...
3/16/2010CAD 30,000,000 Non-Brokered Equity Financing
8/26/2009Closes AngloGold Ashanti Top Up Private Placement
3/5/2009Closes $10,500,000 Bought Deal Equity Financing
2/17/2009Increase in Bought Deal Equity Financing
2/12/2009 Announces Bought Deal Equity Financing
Option Grants of Intl. Tower Hill Mines
8/24/2012International Tower Hill Grants Incentive Options
Nominations of Intl. Tower Hill Mines
1/30/2013International Tower Hill Announces Resignation of a Director
1/9/2012International Tower Hill Mines Names Thomas E. Irwin as New ...
4/14/2010Appointment of Timothy Haddon and Daniel Carriere as new Dir...
Financials of Intl. Tower Hill Mines
8/15/2012International Tower Hill Files 2012 Second Quarter Financial...
5/11/2012International Tower Hill Files 2012 First Quarter Financial ...
Project news of Intl. Tower Hill Mines
7/23/2013(Livengood)International Tower Hill Mines Announces Livengood Gold Proj...
11/7/2012(Livengood)International Tower Hill Provides an Update on the Livengood...
6/19/2012(Livengood)International Tower Hill Mines Announces Update on the Liven...
1/26/2012(Livengood)International Tower Hill Mines Selects Engineering Firms for...
12/14/2011(Livengood)International Tower Hill Mines Acquires Mining Claims Near L...
6/9/2011(Livengood)International Tower Hill Mines Intersects 92.9 Metres of 1.6...
5/3/2011(Livengood)International Tower Hill Mines Intersects 33.5 Metres of 8.0...
3/30/2011(Livengood)International Tower Hill Mines Intersects Additional Zones o...
3/15/2011(Livengood)International Tower Hill Mines Hires Construction Manager fo...
2/5/2011(Livengood)International Tower Hill Intersects 13.7 metres of 5.45 g/t ...
6/16/2010(Livengood)Announces Resource Update, Livengood Gold Project, Alaska
5/11/2010(Livengood)Continues to Grow New High-Grade SW Zone, Livengood Project
4/26/2010(Livengood)Expands Higher Grade SW and Sunshine Zones at Livengood Proj...
3/22/2010(Livengood)Expands Livengood Deposit with First Results of Winter Drill...
3/10/2010(Livengood)Increases Indicated Resources at Livengood Gold Project
3/8/2010(Livengood)Announces Key Positive Metallurgical Test Results for Liveng...
3/4/2010(Terra) Signs LOI to Form Production Joint Venture on Terra Project
2/4/2010(Livengood)Begins 50,000 Metre 2010 Exploration Drill Program at Liveng...
12/4/2009Coffee Dome Drilling Intersects Gold System 17Km East of For...
11/30/2009(Livengood)Positive Preliminary Economic Assessment Results
11/12/2009(Livengood) Continues to Expand Livengood Gold Project, Alaska
11/5/2009(Chisna)Reaches JV Agreement on Chisna Copper
11/2/2009(Livengood)Continues to Expand the Livengood Gold Project
9/30/2009(Livengood)Expands the Sunshine Zone at Livengood
9/9/2009(Livengood)Latest Drill Results From Livengood Gold Project, Alaska
9/2/2009(Coffe Dome)Begins Drilling at Coffee Dome Project, Alaska
8/4/2009(North Bullfrog)Signs Agreement to Acquire 100% Interest in North Bullfrog
8/5/2009(Livengood)Delineates Major New Zone of Gold Mineralization at Livengoo...
6/26/2009(Livengood)Resource Update at Livengood, Alaska
6/10/2009(Livengood)Livengood Gold Project, Alaska Summer Drilling Program Comme...
3/10/2009(Livengood)Doubles Planned 2009 Drill Program for Livengood Gold Projec...
3/2/2009(Livengood)First Two Holes of 2009 Winter Drill Program
2/9/2009(Livengood)Livengood Gold Project, Alaska Winter Drilling Program Comme...
Corporate news of Intl. Tower Hill Mines
5/6/2016International Tower reports 1Q loss
3/16/2016International Tower reports 4Q loss
10/30/2015International Tower Hill Mines Files 2015 Third Quarter Fina...
8/6/2015International Tower reports 2Q loss
8/6/2015International Tower Hill Mines Files 2015 Second Quarter Fin...
3/26/2015International Tower Hill Mines Appoints Karl Hanneman as Chi...
3/11/2015International Tower Hill Mines Files 2014 Year End Financial...
1/6/2015International Tower Hill Mines Announces Progress on Livengo...
12/18/2014International Tower Hill Mines Announces Management Change
11/24/2014International Tower Hill Mines Announces CAD 8.4 Million Non...
11/5/2014International Tower Hill Mines Files 2014 Third Quarter Fina...
8/7/2014International Tower Hill Mines Files 2014 Second Quarter Fin...
8/7/2014International Tower Hill Mines Files 2014 Second Quarter Fin...
5/7/2014International Tower Hill Mines Files First Quarter 2014 Fina...
9/9/2013(Livengood)International Tower Hill Mines Files NI 43-101 Technical Rep...
8/8/2013International Tower Hill Mines Announces Addition to the Boa...
7/31/2013International Tower Hill Mines Files 2013 Second Quarter Fin...
6/7/2013International Tower Hill Mines Announces Results from Annual...
5/9/2013International Tower Hill Mines Files 2013 First Quarter Fina...
4/24/2013International Tower Hill Mines Comments on Recent Gold Marke...
3/13/2013International Tower Hill Mines Announces Corporate Update an...
12/11/2012(Livengood)International Tower Hill Announces Positive Metallurgical Te...
8/21/2012International Tower Hill Reports New High-Grade Gold Interce...
8/2/2012International Tower Hill Mines Announces New Manager of Inve...
6/29/2012International Tower Hill Mines Announces Interim Chief Execu...
4/4/2012International Tower Hill Recognizes Alaska Progress Made Tow...
3/21/2012International Tower Hill Mines Files Audited Annual Financia...
3/6/2012(Livengood)International Tower Hill Mines Validates Resource Estimate a...
2/27/2012International Tower Hill Mines Reports Historical Resource o...
1/16/2012International Tower Hill Mines Changes Fiscal Year End
1/4/2012International Tower Hill Mines Grants Options
12/20/2011International Tower Hill Mines Appoints Robert D. Comer as I...
8/29/2011International Tower Hill Mines Files 2011 Audited Annual Fin...
8/23/2011International Tower Hill Announces Surface Mine Measured & I...
8/16/2011International Tower Hill Mines Appoints Harold Galbriath as ...
7/28/2011International Tower Hill Mines Grants Stock Options
5/10/2011International Tower Hill Mines Appoints James Komadina as Ne...
5/6/2010 Signs Key Exploration Agreement with Ahtna
2/11/2010Receives Share Ownership Top-up Notice from AngloGold Ashant...
1/12/2010Hires Chief Operating Officer
11/26/2009to Begin Trading on Toronto Stock Exchange
11/18/2009Receives Conditional Toronto Stock Exchange Listing Approval
10/13/2009Expands Livengood Gold Resource by 64%
7/10/2009Receives Share Ownership Top-up Notice from AngloGold Ashant...
7/3/2009Retains Renmark Financial Communications Inc.
5/20/2009Receives Proceeds of $23,114,288 from Warrant/Broker Option ...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (ITH.TO)AMEX (THM)
0.780-3.70%0.580-2.85%
TORONTO
CA$ 0.780
02/03 15:56 -0.030
-3.7%
Prev close Open
0.810 0.780
Low High
0.780 0.800
Year l/h YTD var.
0.600 -  0.810 30.00%
52 week l/h 52 week var.
0.510 -  1.44 -15.22%
Volume 1 month var.
17,343 23.81%
24hGold TrendPower© : 4
Produces
Develops Gold
Explores for Bismuth - Copper - Gold - Nickel - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/27/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
202332.20%
2022-39.18%1.560.58
2021-45.51%1.960.79
2020161.76%3.070.43
20191.49%0.940.60
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 6.99+0.87%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 6.25-4.14%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70-3.97%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06-13.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.14+2.88%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.71-0.10%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.20-6.98%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.34-1.45%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.08-2.80%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.85-0.16%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.02+0.00%Trend Power :