VANCOUVER, BC, Oct. 16, 2020 /PRNewswire/ – Worldwide Tower Hill Mines Ltd. (TSX: ITH) (NYSE-American: THM) (the “Firm”) right now pronounces that, additional to its earlier announcement of September 2, 2020, the Firm has now raised the total US $10.three million accessible pursuant to its At-The-Market (“ATM”) providing with B. Riley Securities, Inc. (the “Providing”).
The Firm issued a complete of seven,334,513 frequent shares at a median value of US $1.40 for gross proceeds of US $10.three million. The Firm intends to make use of the web proceeds of the Providing for working capital and basic company functions, together with the completion of the Pre-Feasibility Examine (“PFS”) introduced on July 15, 2020 to additional de-risk the Livengood Gold Challenge and for environmental baseline research. Following completion of the Providing, the Firm has 194,908,184 frequent shares issued and excellent.
Karl Hanneman, Chief Government Officer, stated “With completion of this financing, we ensured that the Firm has greater than sufficient funding to finish the PFS by October of subsequent 12 months. After completion of the PFS, this financing additionally provides us a superb runway to advance the Livengood Gold Challenge in a disciplined and optimum method for shareholders.”
This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase securities, nor shall there be any sale of those securities in any jurisdiction wherein such a suggestion, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction.
About Worldwide Tower Hill Mines Ltd.
Worldwide Tower Hill Mines Ltd. controls a 100% curiosity of the Livengood Gold Challenge, positioned alongside the paved Elliott Freeway, 70 miles north of Fairbanks, Alaska.
On behalf of
Worldwide Tower Hill Mines Ltd.
(signed) Karl L. Hanneman
Chief Government Officer
Cautionary Notice Relating to Ahead-Wanting Statements
This press launch incorporates forward-looking statements and forward-looking data (collectively, “forward-looking statements”) inside the that means of relevant Canadian and US securities laws. All statements, apart from statements of historic reality, included herein, together with statements with respect to the proposed use of the proceeds of the Providing by the Firm, the flexibility of the Firm to hold out and full optimization research with respect to the Livengood Gold Challenge, the flexibility of the Firm to advance the Livengood Gold Challenge, the potential growth of any mine at Livengood, enterprise and financing plans and enterprise tendencies are forward-looking statements. Though the Firm believes that such statements are cheap, it may give no assurance that such expectations will show to be appropriate. Ahead-looking statements are usually recognized by phrases reminiscent of: imagine, anticipate, anticipate, intend, estimate, postulate, proposed, deliberate, potential and related expressions, or are these, which, by their nature, consult with future occasions. The Firm cautions buyers that any forward-looking statements by the Firm usually are not ensures of future outcomes or efficiency, and that precise outcomes could differ materially from these in forward-looking statements on account of varied components, together with, however not restricted to, using proceeds from the Providing, the potential lack of ability of the Firm to lift the required capital or to be absolutely capable of implement its enterprise methods, and different dangers and uncertainties disclosed within the Firm’s annual report on Type 10-Okay and different experiences filed with the USA Securities and Alternate Fee, and sure securities commissions in Canada and different data launched by the Firm and filed with the suitable regulatory companies. The entire Firm’s Canadian public disclosure filings could also be accessed by way of www.sedar.com and its United States public disclosure filings could also be accessed by way of www.sec.gov, and readers are urged to evaluation these supplies, together with the most recent technical report filed with respect to the Livengood Gold Challenge.
SOURCE Worldwide Tower Hill Mines Ltd.