TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z1/WKN: AODLHP
Pink Sheets: MHIFF
RICHMOND, BC, Sept. 16, 2014 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "Mineral Hill") is pleased to announce that its Board of Directors has approved a settlement accepting shares from Kirkland Precious Metals Corp. ("KPM"), a company affiliated through three common directors, in exchange for unpaid debt that had accumulated since December 2012. Since 2012, the Company has been providing KPM with administrative services and sublease of office space for which the Company has accumulated a receivables balance due from KPM of $109,454. The Company will receive 2,189,200 common shares of KPM at a deemed price of $0.05 per share as payment for the outstanding balance.
KPM is a reporting Company but has not yet submitted an application for listing its securities on any stock exchange. Mineral Hill and KPM are affiliated through two common directors.
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: For further information, please visit www.mineralhill.com or contact: Dieter Peter, President & CEO, Phone: (604) 278-1132, Fax: (604) 278-1139