Mineral Hill Industries Ltd. Announces Gypsy Swap
Trading Symbols: TSX Venture Exchange: MHI Frankfurt Stock Exchange: N8Z1/WKN: AODLHP Pink Sheets: MHIFF
VANCOUVER, March 28, 2013 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "Mineral Hill") wishes to announce that a controlling shareholder of the Company has arranged a sale of 1,500,000 common shares at a price of $0.155 per share, through the facilities of the TSX Venture Exchange.
The proceeds from this sale will be used to partly fund a private placement of 3,700,000 units of the Company at a price of $0.15 per unit. Each unit includes one common share at a price of $0.15 per share and one share purchase warrant of the Corporation. Each whole warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 24 months at a price of $0.20 per share. The proceeds of this private placement will be used for working capital and to pursue the Company's Liberty Hill Mine gold project. The 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 2013/14. Additionally the Company owns a portfolio of three quality lithium properties in Quebec, Canada and holds the option on one additional property adjacent to Canada Lithium Corp, which will make Mineral Hill one of the largest 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.
please visit www.mineralhill.com or contact:
Dieter Peter President & CEO Telephone: (604) 685-6803 Fax: (604) 685-2360
SOURCE: Mineral Hill Industries Ltd.
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CO: Mineral Hill Industries Ltd. ST: British Columbia NI: MNG NASDAQ PVT
-0- Mar/28/2013 18:24 GMT