VANCOUVER, Nov. 12, 2018 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "Mineral Hill") wishes to announce that in reference to its News Release dated October 17, 2018, the TSX Venture Exchange (the "TSX-V") has accepted for filing the Company's proposal to issue 6,468,910 common shares to Merfin Management Limited ("Merfin") and 585,975 common shares to Infogen Research Limited ("Infogen") respectively to settle long outstanding insider loans. The shares will have no warrants attached and the cost of $0.155 per share was calculated based on the weighted average trading price for the previous two months.
Merfin and Infogen agreed to a voluntary holding period of four month from the issuance date.
The shares have been issued and the long-term insider debt has been herewith extinguished. he Company is pleased that both lenders showed faith in Mineral Hill's future and Management is looking forward to the Company's new endeavors within the energy business.
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) 617-6794