INTERNATIONAL TOWER HILL MINES LTD
33.80%
70,239,388
1134115
46050R102
Mar 2, 2025
Mar 5, 2025, 04:01 PM
Reporting Persons (1)
| Name | Type | % of Class | Aggregate | Sole Voting | Shared Voting |
|---|---|---|---|---|---|
| PAULSON & CO. INC. | Investment Adviser | 33.80% | 70,239,388 | 70,239,388 | 0 |
Disclosure Items (6)
Common Shares, no par value
INTERNATIONAL TOWER HILL MINES LTD
200 BURRARD STREET, VANCOUVER, A1, V6C 3L6
Item 3 is hereby amended to add the following: The consideration for the purchase of the securities on March 3, 2025 reported herein by the Reporting Person was derived from available capital of the Funds managed by Paulson, and a total of approximately $2,899,999.88 was paid to acquire such securities.
The aggregate percentage of Common Stock reported owned by the Reporting Person is based upon approximately 207,885,473 shares of Common Stock outstanding, which is based upon (i) 199,693,442 shares of Common Stock outstanding as of September 30, 2024 as disclosed in the Issuer's Current Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2024 and (ii) the issuance by the Issuer of an additional 8,192,031 shares of Common Stock as part of the Offering as described in the Closing 8-K. As of the date hereof, the Reporting Person may be deemed to have beneficially owned approximately 33.8% of the outstanding Common Stock.
Number of shares of Common Stock as to which Paulson has: (i) Sole power to vote or direct the vote: 70,239,388 (see Note 1). (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose or direct the disposition: 70,239,388 (see Note 1). (iv) Shared power to dispose or direct the disposition: 0
On March 3, 2025, the Reporting Person acquired from the Issuer, in a private placement, 6,040,408 shares of Common Stock at a price of $0.4801 per share.
See Note 1. Note 1: Paulson furnishes investment advice to and manages the Funds. In its role as investment advisor, or manager, as the case may be, Paulson possesses voting and investment power over the securities of the Issuer described in this Schedule 13D that are owned by the Funds. The pecuniary interest of all securities reported in this Schedule is owned by the Funds. Except for the purpose of determining beneficial ownership under Section 13(d) of the Securities Exchange Act of 1934, as amended, Paulson disclaims beneficial ownership of all securities reported in this Schedule 13D. For reporting purposes, the aggregate amount of Common Stock deemed to be beneficially owned by the Reporting Person is calculated based on an aggregate of 70,239,388 shares of Common Stock beneficially held by the Reporting Person as of the date hereof.
Not applicable.
See Item 4 hereof.
10.1 Form of Subscription Agreement, dated February 26, 2025 between the Issuer and Paulson & Co. Inc. (incorporated by reference to Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 4, 2025).