INTERNATIONAL TOWER HILL MINES LTD. (TSE:ITH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

INTERNATIONAL TOWER HILL MINES LTD. (TSE:ITH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 1, 2020, Damola Adamolekun notified the board of directors (the “Board”) of International Tower Hill Mines Ltd. (the “Company”) of his decision to resign as a member of the Board, effective immediately. Mr. Adamolekun was nominated for election as a member of the Board by Paulson & Co. Inc. (“Paulson”) to that certain Investor Rights Agreement, dated December 28, 2016 (the “Investor Rights Agreement”), between the Company and Paulson, and served in that capacity since March 22, 2018. Mr. Adamolekun’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

Effective June 1, 2020, the Company appointed Christopher Papagianis as a member of the Board, filling the vacancy created by the resignation of Mr. Adamolekun. Paulson designated Mr. Papagianis to its rights under the Investor Rights Agreement. Mr. Papagianis will serve on the Compensation Committee of the Board. There are no relationships between Mr. Papagianis and the Company that would require disclosure to Item 404(a) of Regulation S-K, other than a non-brokered private placement of the Company’s common shares to Paulson in March 2018 disclosed under “Certain Relationships and Related Transactions” in the Company’s definitive proxy statement filed on April 17, 2020. Mr. Papagianis is a Partner as Paulson.

Item 7.01 Regulation FD Disclosure.

On June 1, 2020, the Company issued a press release regarding the resignation of Mr. Adamolekun and the appointment of Mr. Papagianis. A copy of the press release is furnished with this report as Exhibit 99.1.

The information furnished under this Item 7.01, including the press release, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by reference to such filing.

Item 9.01 Exhibits.

99.1 Press Release of the Company, dated June 1, 2020.


INTERNATIONAL TOWER HILL MINES LTD Exhibit
EX-99.1 2 tm2021508d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1   International Tower Hill Mines Announces New Paulson Designee for Board   Vancouver,…
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About INTERNATIONAL TOWER HILL MINES LTD. (TSE:ITH)

International Tower Hill Mines Ltd.is a mineral exploration company. The Company is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. It operates through the exploration and development of mineral properties segment. The Company owns the Livengood Gold Project in Alaska, the United States. The Livengood Gold Project is located approximately 70 miles northwest of Fairbanks, Alaska in the Tolovana mining district within the Tintina Gold Belt. The Livengood Gold Project has a mineral resource of approximately 730 million measured tons at an average grade of over 0.61 gram/ton (g/ton), approximately 70 million indicated tons at an average grade of approximately 0.56 g/ton and over 260 million inferred tons at an average grade of approximately 0.52 g/ton.

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