International Tower Hill Mines Announces US$60 Million Offering of Common Shares and Concurrent US$40 Million Private Placement

Rhea-AI Summary

International Tower Hill Mines (NYSE:THM) announced a US$60 million public offering of common shares in the United States and a concurrent US$40 million private placement with Paulson & Co. at the public offering price, with BMO Capital Markets as lead book-running manager.

The company may grant underwriters a 30-day option to buy up to an additional 15% of the offered shares; if exercised in full, aggregate gross proceeds would be approximately US$109 million. Net proceeds are intended to fund exploration and development of the Livengood Gold Project and general corporate purposes. Closings are subject to customary conditions and the private placement is not guaranteed.

Positive

• US$60M public offering launched
• US$40M concurrent private placement committed by Paulson & Co.
• Potential aggregate gross proceeds of ~US$109M if option exercised
• Proceeds earmarked for Livengood Gold Project exploration and development

Negative

• Share issuance will cause shareholder dilution
• Concurrent private placement not guaranteed
• Closing of the offering subject to customary conditions

News Market Reaction

+2.52% 2.0x vol

6 alerts

+2.52% News Effect

-16.1% Trough in 22 hr 38 min

+$13M Valuation Impact

$535M Market Cap

2.0x Rel. Volume

On the day this news was published, THM gained 2.52%, reflecting a moderate positive market reaction. Argus tracked a trough of -16.1% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $13M to the company's valuation, bringing the market cap to $535M at that time. Trading volume was elevated at 2.0x the daily average, suggesting notable buying interest.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Public offering size: $60 million Concurrent private placement: $40 million Overall gross proceeds: $109 million +5 more

8 metrics

Public offering size $60 million Common share offering in the United States

Concurrent private placement $40 million Paulson & Co. Inc. common share purchase

Overall gross proceeds $109 million If underwriters’ option exercised in full

Underwriters’ option size 15% Additional common shares relative to base offering

Option exercise window 30 days Period after closing for underwriters to exercise option

Current share price $2.38 Price before announcement

52-week low $0.45 Trading range reference

52-week high $3.13 Trading range reference

Market Reality Check

Price: $2.49 Vol: Volume 854,495 is modestl...

normal vol

$2.49 Last Close

Volume Volume 854,495 is modestly above the 20-day average of 786,164, indicating only slightly elevated trading ahead of the offering news. normal

Technical THM last traded at $2.38, above its 200-day MA of $1.38 and 23.96% below its 52-week high of $3.13.

Peers on Argus

THM showed a 2.15% gain while key gold peers were mostly negative, with names li...

THM showed a 2.15% gain while key gold peers were mostly negative, with names like IDR (-10.54%), GAU (-6.82%), NFGC (-3.45%), and DC (-3.23%), and only CMCL positive at 4.86%. This points to a stock-specific reaction rather than a sector-wide move.

Historical Context

3 past events · Latest: Nov 07 (Neutral)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	Quarterly filing	Neutral	-1.2%	Filed Q3 2025 financials and MD&A with no major new initiatives.
Sep 04	Project update	Positive	-1.4%	Reported encouraging initial antimony metallurgy results at Livengood.
Aug 08	Quarterly filing	Neutral	-7.1%	Announced filing of Q2 2025 financial statements and related documents.

Pattern Detected

Recent news events, including earnings filings and project updates, have been followed by modest negative price reactions, suggesting limited short-term enthusiasm around informational releases.

Recent Company History

Over the last few quarters, International Tower Hill Mines has focused updates on financial filings and technical progress at the Livengood Gold Project. Earnings-related filings on Aug 8, 2025 and Nov 7, 2025 led to modest share price declines of -7.14% and -1.18%, respectively, while a positive metallurgy progress report on Sep 4, 2025 also saw a -1.4% move. This financing announcement follows a pattern where developments tied to advancing Livengood require additional capital to support ongoing work.

Market Pulse Summary

This announcement details a combined $60 million public offering and $40 million concurrent private ...

Analysis

This announcement details a combined $60 million public offering and $40 million concurrent private placement to fund further work at the Livengood Gold Project, including drilling, studies, and permitting activities. Recent filings already highlighted the need for additional financing to progress the asset. Investors should track the final size of the deal, any use of the 15% underwriters’ option, and how upcoming technical and regulatory milestones validate the capital being raised.

Key Terms

private placement, underwriting agreement, shelf registration statement, prospectus supplement, +1 more

5 terms

private placement financial

"Paulson & Co. Inc. has entered into an agreement to purchase $40 million of Common Shares in a private placement"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

underwriting agreement financial

"an underwriting agreement will be entered into by and between International Tower Hill Mines and BMO Capital Markets"

An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.

shelf registration statement regulatory

"pursuant to the Company's effective shelf registration statement on Form S-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

"by means of a prospectus and related prospectus supplement meeting the requirements of Section 10"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

TSX Company Manual regulatory

"intend to rely on the exemption in section 602.1 of the TSX Company Manual"

The TSX Company Manual is the rulebook published by the Toronto Stock Exchange that spells out the standards companies must meet to list and stay listed, including what information they must disclose, basic governance expectations, and procedures for compliance. Like a building code for homes, it creates consistent safety and transparency standards so investors can compare companies, rely on timely financial reporting, and assess the risks if a company breaks the rules.

AI-generated analysis. Not financial advice.

VANCOUVER, BC, Jan. 22, 2026 /PRNewswire/ - International Tower Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE American: THM) today announced the launch of a $60 million public offering of common shares, without par value, of the Company (the "Common Shares") in the United States (the "Offering"). In connection with the Offering, Paulson & Co. Inc. has entered into an agreement to purchase $40 million of Common Shares in a private placement (the "Concurrent Private Placement") at the public offering price of the Offering.

The Company expects to use the net proceeds of the Offering and the Concurrent Private Placement to fund the exploration and development of the Livengood Gold Project, including drilling, metallurgical studies, feasibility studies, technical studies, baseline environmental studies, detailed engineering in support of permitting, permitting, legal support, community engagement, mineral lease and land payments, acquisitions and general corporate purposes.

The Common Shares will be offered by the Company with BMO Capital Markets acting as lead book-running manager (the "Underwriter").

In connection with the Offering, an underwriting agreement will be entered into by and between International Tower Hill Mines and BMO Capital Markets as representative of the several Underwriters.

International Tower Hill Mines has also granted the Underwriters an option (the "Option") to purchase additional Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering. The Underwriters have 30 days from the closing of the Offering to exercise the Option. In connection with the Offering, an underwriting agreement will be entered into by and between International Tower Hill Mines and BMO Capital Markets as representative of the several Underwriters. In the event that the Option is exercised in full, the aggregate gross proceeds of the Offering and the Concurrent Private Placement will be approximately $109 million.

Closing of the Offering will be subject to a number of customary conditions to be included in the Underwriting Agreement.

The Offering to the public in the United States is being made pursuant to the Company's effective shelf registration statement on Form S-3, including a base prospectus, previously filed with the Securities and Exchange Commission (the "SEC"). The Offering in the United States will be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. You may obtain these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the base prospectus may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036. The Offering may also be conducted in Canada and in offshore jurisdictions on a private placement basis in accordance with applicable securities laws. The Company intends to rely on the exemption in section 602.1 of the TSX Company Manual in respect of the Offering and the Concurrent Private Placement as an eligible interlisted issuer.

The consummation of the Concurrent Private Placement is subject to customary closing conditions, including the completion of the Offering, but the Offering is not contingent upon the consummation of the Concurrent Private Placement. We cannot assure you that the Concurrent Private Placement will be completed. The sale of the Common Shares under the Concurrent Private Placement will not be registered under the Securities Act of 1933, as amended.

This news release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements containing the terms "intends," "estimates," "may," "might", "will," or other similar expressions to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The forward-looking statements in this press release, including statements regarding the conduct of the Offering and Private Placement; the granting of the Underwriters' over-allotment option; the anticipated use of proceeds from the Offering and Private Placement; the occurrence of the expected benefits from the anticipated use of proceeds from the Offering, Private Placement. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation: (i) that the current exploration, development, environmental and other objectives concerning the Livengood Gold Project can be achieved and that its other corporate activities will proceed as expected and (ii) that general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase. The foregoing list of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors detailed in the "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025 and the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 and other documents that have been and will be filed by the Company from time to time with the Securities and Exchange Commission and Canadian securities regulators. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable securities laws.

About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. has a 100% interest in its 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

View original content:https://www.prnewswire.com/news-releases/international-tower-hill-mines-announces-us60-million-offering-of-common-shares-and-concurrent-us40-million-private-placement-302668527.html

SOURCE International Tower Hill Mines Ltd.

FAQ

What is the size of International Tower Hill Mines' (THM) offering announced Jan 22, 2026?

The company launched a US$60 million public offering plus a US$40 million concurrent private placement by Paulson & Co.

Who is buying the US$40 million private placement in the THM offering?

Paulson & Co. agreed to purchase US$40 million of common shares at the public offering price.

How could THM reach ~US$109 million in aggregate proceeds?

Underwriters have a 30-day option to buy up to 15% additional shares; full exercise would bring aggregate gross proceeds to ~US$109M.

What will THM use the offering proceeds for?

Net proceeds are intended for Livengood Gold Project drilling, studies, permitting, land payments, acquisitions and general corporate purposes.

Is the THM private placement part of the offering guaranteed to close?

No; the concurrent private placement is subject to customary closing conditions and is not assured.

Who is managing the THM offering and where will the US offering be filed?

BMO Capital Markets is lead book-running manager and the US offering is being made under the company's effective Form S-3 shelf registration.