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
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
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
Phone: (604) 685-4170
Fax: (604) 685-2360