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, July 17, 2013 /CNW/ - Mineral Hill Industries Ltd. (the "Company"
or "Mineral Hill") wishes to announce it will use its best efforts to sell by
private placement consisting of up to 4,000,000 units at $0.10 per unit
("Unit") for total proceeds of up to $400,000. Each Unit will be comprised
of one common share and one transferable common share purchase warrant (the
"Warrant"). Two Warrants shall entitle the holder thereof to purchase one
additional Share in the capital of Mineral Hill, for a period of two years
from the date of issue, at an exercise price of $0.20. All securities issued
in the Private Placement will be subject to a four-month hold period pursuant
to applicable securities laws. Finder's Fees may be paid to qualified finders
who are at arm's length to the Company.
The Company will apply the proceeds from the private placement towards its
existing projects and working capital to fund ongoing operations.
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 optioned 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 stockpile of 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 has acquired 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 Phone: (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- Jul/17/2013 20:53 GMT
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