International Tower Hill Mines prices $65M share offering and $40M placement

International Tower Hill Mines Ltd. (TSX: ITH) (NYSE American: THM) announced the pricing and upsizing of its public offering of 29.28 million common shares at $2.22 per share in the United States. The company also secured a concurrent $40 million private placement from Paulson & Co. Inc. at the same price.

The combined gross proceeds from both transactions will be approximately $105 million before deducting commissions and expenses. The company expects the offering to close on or about January 27, 2026.

International Tower Hill Mines granted underwriters an option to purchase up to an additional 4.39 million common shares, representing 15% of the offering size. If exercised within 30 days, this option would increase total gross proceeds to approximately $115 million.

BMO Capital Markets serves as lead book-running manager, with National Bank of Canada Capital Markets, RBC Capital Markets, Cantor and Scotiabank acting as book-running managers.

The company stated it plans to use net proceeds to fund exploration and development of the Livengood Gold Project, including drilling, metallurgical studies, feasibility studies, environmental studies, engineering for permitting, and general corporate purposes.

The public offering in the United States is being conducted under the company's effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. The private placement shares will not be registered under the Securities Act of 1933.

International Tower Hill Mines holds a 100% interest in its Livengood Gold Project located 70 miles north of Fairbanks, Alaska, along the Elliott Highway.

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