TSX Venture Exchange: MHI Frankfurt Stock Exchange: N8Z1/WKN: AODLHP
Pink Sheets: MHIFF
The securities being offered have not been, nor will be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to U.S. persons without registration or
applicable exemption from the registration requirement of such Act. This
release does not constitute an offer for sale of such securities in the United
States of America.
VANCOUVER, March 27, 2013 /CNW/ -
Non-Brokered Private Placement
Mineral Hill Industries Ltd. (the "Company" or "MHI") wishes to announce it
will use its best efforts to sell by private placement consisting of up to
3,700,000 units at $0.15 per unit ("Unit") for total proceeds of up to
$555,000. Each Unit will be comprised of one common share and one
transferable common share purchase warrant. Each warrant forming part of a
Unit is exercisable for one additional common share for a period of two years
from the date of closing. Each warrant will be exercisable for one
additional common share at $0.20 per share.
The Company will apply the proceeds from the private placement towards its
existing projects, new acquisitions and working capital to fund ongoing
Certain directors and officers of the Company may acquire units under the
private placement. Any such participation would be considered to be a
"related party transaction" as defined under Multilateral Instrument 61-101
("MI 61-101"). The transaction will be exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 as neither the fair
market value of any units issued to or the consideration paid by such persons
will exceed 25% of the Company's market capitalization.
This private placement is subject to regulatory approval.
About Mineral Hill Industries Ltd.
Mineral Hill Industries Ltd. is a Canadian-based Gold and Lithium Exploration
and Development Company trading on the TSX Venture Exchange (MHI), the
Frankfurt Exchange (N8Z), and the OTC Pink Sheets (MHIFF).
Mineral Hill has recently acquired a fifty percent participation as operator
of an open pit "placer gold" project which had been previously in
production. The "Liberty Hill Mine" consists of 127 fee simple unpatented
mining claims totaling 2,444.75 acres in the heart of the historical
California Gold Rush. The Company intends to test a 40,000 cubic yard
stockpile of gold bearing material to verify the historical data of the
Liberty Hill Gold Mine and to take steps towards bringing the mine into
production during 2012/13. Additionally the Company holds the options on a
portfolio of four quality lithium properties in Canada, which will make
Mineral Hill one of the largest potential lithium landholders in Québec after
Canada Lithium Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
pleasevisitwww.mineralhill.com or contact:
Dieter Peter President & CEO Telephone: (604) 685-4170 Fax: (604) 685-2360
SOURCE: Mineral Hill Industries Ltd.
To view this news release in HTML formatting, please use the following URL:
CO: Mineral Hill Industries Ltd.
ST: British Columbia
NI: MNG NASDAQ PVT
-0- Mar/27/2013 20:01 GMT
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