Mineral Hill Industries - Corporate Update

RICHMOND, BC, Dec. 21, 2016 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "Mineral Hill") wishes to announce that at its Annual and Special General Meeting held on December 16, 2016 (the "ASGM"), Messrs. Rafael Pinedo, Grant Hendrickson, Andrew von Kursell, Dieter Peter, Eric Peter-Kaiser and Milo Filgas were re-elected as directors and Davidson & Company LLP were re-appointed as the Company's auditors.

Also at the AGM, the Company's shareholders passed a special resolution approving an amendment to the Company's Articles authorizing the Company to issue non-voting convertible preferred shares ("Pref-A Shares"). As stated in the Company's April 21, 2016 and September 13, 2016 news releases, upon receiving final approval from the TSXV, the Company will issue 2.25 million Pref-A Shares at a par value of CAD 1.00 per Pref-A Share to the Shareholders-SPA in proportion to their respective shareholdings in CPS, as defined in the SPA. The Pref-A Shares will be convertible into common shares of Mineral Hill on a "one-for-one" basis any time subsequent to their issuance and may be subject to an escrow agreement subject to the escrow requirements of the TSXV.

At the board meeting (the "Board Meeting") held immediately after the AGM, the following officers and committee members were appointed:

Officers


President & CEO

Dieter Peter

Interim Chief Financial Officer

Andrew von Kursell

Treasurer & Accounting Administrator

Vera Kaiser

Corporate Secretary

Michael Kelm



Audit Committee

Andrew von Kursell

Rafael Pinedo

Milo Filgas

Steering Committee

Andrew von Kursell

Dieter Peter

James Holmes



Corporate Governance & HR Committee

Dieter Peter

James Holmes

Rafael Pinedo

Grant Hendrickson

Environmental & Safety Committee

Andrew von Kursell

Grant Hendrickson

Eric Peter-Kaiser



Exploration Committee

James Ellwood

Rafael Pinedo

Grant Hendrickson

Remi Aiyala

Anthony Campbell

Advisory Board

Eric Peter-Kaiser

 

Also at the Board Meeting, the board of directors (the "Board") nominated and approved Messrs. Dieter Peter, James Holmes, Eric Peter-Kaiser and Dr. Juergen Focke as directors of its subsidiary Global Environomic Systems Corp. ("GSC"). Mr. Peter was also appointed President and CEO and Mr. Michael Kelm was appointed Corporate Secretary of GSC. The Board also authorized the creation and incorporation of an operating subsidiary and, upon receiving final approval of the Company's "Fundamental Acquisition" of 45% of the outstanding shares of CPS Energy Resources Plc ("CPS") from the TSXV, authorized the Company to accept the transfer to Mineral Hill of the UK incorporated financial subsidiary, MHI Mass-Energy Financing Plc ("MMF").

The Company also granted an aggregate of 798,000 incentive stock options to its officers, directors and employees at an exercise price of $0.30 per share.  The options are granted for a three-year period and the grant is subject to vesting provisions. 

The Company seeks Safe Harbor

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 contact: Dieter Peter, President & CEO Phone: (604) 278-1135


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