TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z1/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, March 28, 2013 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "Mineral Hill") wishes to announce that a controlling
shareholder of the Company has arranged a sale of 1,500,000 common
shares at a price of $0.155 per share, through the facilities of the
TSX Venture Exchange.
The proceeds from this sale will be used to partly fund a private
placement of 3,700,000 units of the Company at a price of $0.15 per
unit. Each unit includes one common share at a price of $0.15 per share
and one share purchase warrant of the Corporation. Each whole warrant
entitles the holder thereof to purchase one common share of the
Corporation for a period of 24 months at a price of $0.20 per share.
The proceeds of this private placement will be used for working capital
and to pursue the Company's Liberty Hill Mine gold project. The 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 2013/14. Additionally the Company owns
a portfolio of three quality lithium properties in Quebec, Canada and
holds the option on one additional property adjacent to Canada Lithium
Corp, which will make Mineral Hill one of the largest 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) 685-6803
Fax: (604) 685-2360