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
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
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.
SOURCE: Mineral Hill Industries Ltd.
For further information:
please visit www.mineralhill.com or contact:
President & CEO
Telephone: (604) 685-4170
Fax: (604) 685-2360