International Tower Hill Mines Files 2018 First Quarter Financial Results
/THIS NEWS RELEASE IS NOT, AND IS NOT TO BE CONSTRUED IN ANY WAY AS, AN OFFER TO BUY OR SELL SECURITIES IN THE UNITED STATES./
VANCOUVER, May 4, 2018 /CNW/ - International Tower Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE American: THM) today announced that it has filed its unaudited first quarter Financial Statements and associated Management Discussion and Analysis and Quarterly Report on Form 10-Q for the three-month period ended March 31, 2018.
As of March 31, 2018, the Company had working capital of $13.0 million.
Shareholders can obtain copies of the Company's unaudited first quarter Financial Statements and associated Management Discussion and Analysis and Form 10-Q on SEDAR at: www.sedar.com, EDGAR at www.sec.gov and on the Company's website at: www.ithmines.com. The Company will also provide hard copies of these documents, free of charge, to shareholders who request a copy directly from the Company.
Stock Option Plan Burn Rate
Under rules recently adopted by the Toronto Stock Exchange, listed issuers are required to disclose the burn rate under security based compensation arrangements on an annual basis. The annual burn rate for the Company's 2006 Incentive Stock Option (the "Stock Option Plan"), calculated in accordance with Section 613(p) of the TSX Company Manual, was 0.15% in fiscal 2017, 0% in fiscal 2016 and 1.84% in fiscal 2015. The burn rate for a fiscal year is calculated by dividing the number of options granted under the Stock Option Plan during the year by the weighted average number of common shares outstanding for such year.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls 100% of the 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
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Contact
Contact Information: Richard Solie, Jr., Manager - Investor Relations, E-mail: rsolie@ithmines.com, Direct line: 907-328-2825, Toll-Free: 1-855-428-2825