| Vancouver, BC – May 24, 2016 | |
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MINERAL HILL ANNOUNCES PRIVATE PLACEMENT
Richmond, BC, Canada - May 24, 2016
The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons without registration or applicable exemption from the registration requirement of such Act. This release does not constitute an offer for sale of such securities in the United States of America.
Mineral Hill Industries Ltd. ('Mineral Hill' or 'Company') wishes to announce that the private placement referred to the Company's news release disseminated on May 11, 2016 ('PP1605') will consist of up to 6,700,000 securities units (the 'Unit(s)') in the capital of the Company at a price of $0.30 per Unit upon the approval of the Stock Exchange ('TSXV'). Each Unit will consist of one common share plus one transferable common share purchase warrant ('Warrant') exercisable over a three year period subsequent to the approval of the TSXV at $0.40, $0.50 and $0.80 respectively if exercised within the first, second or third year subsequent to its date of issuance. The proceeds will be used for general working capital and operating expenses to further the Company's interest in its new project.
The Company will now engage with potential investors who have expressed an interest to participate in PP1605 in due course.
The Company seeks Safe Harbor
For further information, please contact:
Dieter Peter
President & CEO Phone: (604) 278-1135
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Mineral Hill Industries Ltd.
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CODE : MHI.V |
ISIN : CA60283T2074 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Mineral Hill Industries is a gold exploration company based in Canada. Mineral Hill Industries holds various exploration projects in Canada. Its main exploration properties are LAC BARRY and MINERAL HILL in Canada. Mineral Hill Industries is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.1 millions as of today (US$ 814 613, € 732 663). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.55, and its lowest recent point on November 27, 2009 at CA$ 0.01. Mineral Hill Industries has 11 060 000 shares outstanding. |