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, April 11, 2013 /CNW/ - Mineral Hill Industries Ltd. (the "Company"
or "Mineral Hill") wishes to announce that further to its news release on
March 27, 2012, it will use its best efforts to sell additionally a private
placement of up to $75,000 by issuing 500,000 flow through units ("FT Units")
at $0.15 per unit ("Unit"). Each FT Unit will comprise one flow through common
share and one transferable common share purchase warrant. Each transferable
common share purchase warrant is exercisable for one additional non flow
through common share at $0.20 per share for a period of two years from the
date of closing.
The Company will apply the proceeds from the private placement towards its
existing Lithium properties in the Canadian Province of Quebec.
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.
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.
For further information, pleasevisitwww.mineralhill.com orcontact:
Dieter Peter President & CEO Telephone: (604) 685-6803 Fax: (604) 685-2360
Dennis McKnight Director & President of Veritas Resources Corp. Telephone:
(788) 868-9424 Email:firstname.lastname@example.org
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- Apr/11/2013 18:12 GMT
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