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
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) 685-6803 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
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