ITH Mines raises $15.5 mln in financing, Electrum invests
Vancouver mining company International Tower Hill Mines Ltd (TSX: ITH) has closed a private placement deal, generating about $15.5 million (US$12 million) in proceeds. A fund managed by U.S. resources investment firm Electrum Group, a new shareholder of ITH, backed the deal alongside Paulson & Co, a U.S. hedge fund manager. Paulson & Co will as a result increase its ITH ownership stake to 32 percent of issued and outstanding shares, while Electrum will hold 10.7 percent. The company said it will use the proceeds for studies related to its Livengood Gold Project in Alaska and other priorities.
14 March 2018•5 mins read
