TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z1/WKN: AODLHP
OTC Market (US): MHIFF
RICHMOND, BC, May 11, 2016 /CNW/ - Mineral Hill Industries Ltd. ("Mineral Hill" or "Company") wishes to announce that, in view of the high interest in the Company's "Fundamental Acquisition" on its first trading day after a prolonged requested "Trade-Halt" period, the Company is going to base the price of its proposed Private Placement ("PP1605"), announced in the Company's April 21, 2016 news release, not on the closing price of its stock on the first day following the resumption of trading but instead will use the average of the closing prices from the first five (5) trading days following the resumption of trading as price for the security units with three (3) year share purchase warrants ("Warrants") attached. The Company' Board of Directors and its new project partners feel that that arrangement would be fair for both the PP1606 participants and existing long-term shareholders.
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: Dieter Peter, President & CEO, Phone: (604) 278-1135