TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, April 14 /CNW/ - Mineral Hill Industries Ltd. (TSX-V: MHI) (the "Company") is pleased to announce that further to its news releases of January 22, 2010 and February 1, 2010, the Company has now completed a non-brokered private placement of $75,000 with a subscription of 1,140,000 flow through units (the "Units") of the Company at a price of $0.05 per Unit and 360,000 non flow through units. Each FT Unit will comprise one flow through common share and one transferable common share purchase warrant. Each NFT Unit will comprise one non flow through common share and one transferable common share purchase warrant. Each transferable common share purchase warrant is exercisable for one additional non flow through common share at $0.10 per share for a period of five years from the date of issuance.
All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units are subject to a hold period and may not be traded in British Columbia until August 14, 2010 except as permitted by the applicable Securities Acts and the Rules made thereunder and the TSX Venture Exchange.
About Mineral Hill Industries Ltd.
Mineral Hill Industries Ltd. is a Canadian based mineral exploration and development company trading on the TSX Venture Exchange (MHI), the Frankfurt Exchange (N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF). Mineral Hill has accumulated a diversified portfolio of quality lithium and precious metal properties in Canada and the USA. The Company's primary focus is on developing its three 100%-owned hard-rock lithium carbonate exploration projects in Quebec, Canada, its brine lithium property in Nevada, USA, as well as its Praxis Goldfields Project in Northern BC.
Mineral Hill recently completed and filed a NI 43-101 Technical Report on three prospects located near Val d'Or, Quebec which confirmed elevated Li(2)O concentrations. Following completion of the NI 43-101 Technical Report, Mineral Hill is evaluating the next stage of development for its Quebec lithium prospects in 2010 which will include drilling and expanded exploration.
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: on Mineral Hill Industries Ltd. and its projects visit the Company's website at www.mineralhill.com or contact: John Punzo, President, Mineral Hill Industries Ltd., Telephone: (604) 685-4170; Michael Johal, Mineral Hill Industries Ltd., Tel: (604) 630-6792, email@example.com; Investor Relations, Senergy Communications, Shiro Rae, Tel: (778) 331-2031, firstname.lastname@example.org