By Laura Lutz
Des Moines, April 16 - International Tower Hill Mines Inc. increased the size of its brokered private placement of units to C$14,650,800 from C$9.6 million.
The company now plans to sell up to 6,104,500 units of one share and one transferable warrant at C$2.40 per unit. Each warrant will be exercisable at C$3.00 for two years.
The agent's greenshoe has been canceled as a result of the increase.
The deal priced on April 10 as an offering of up to 4 million units with a greenshoe for up to 400,000 units.
Proceeds will be used for exploration on the company's Alaska and Nevada properties, for future acquisitions and for working capital.
International Tower is a resource exploration company based in Vancouver, B.C.
| Issuer: | International Tower Hill Mines Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$14,650,800
|
| Units: | 6,104,500
|
| Greenshoe: | None
|
| Price: | C$2.40
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Pricing date: | April 10
|
| Upsized: | April 16
|
| Stock symbol: | TSX Venture: ITH
|
| Stock price: | C$2.60 at close April 10
|
| Stock price: | C$2.79 at close April 16
|
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