Mineral Hill Industries Ltd. (“MHI” or “Company”) is a consolidated Canadian junior resource, exploration and development company listed on the TSX Venture Exchange (“TSX-V”) under the stock symbol “MHI”, the Frankfurt Exchange “N8Z1”, and the OTC Markets “MHIFF. The Company was reorganized by the current management in September 2004, following a change of control of the company, previously known as Clearview Mineral Resources Corp.
Further to the Company’s news releases dated December 7, 2017 and December 14, 2017, Mineral Hill Industries Ltd. (“MHI” or the “Company”) wishes to announce that it has signed a binding Agreement to acquire an Oil and Gas operated Leasehold Estate of approximately 4300 acres, located in close proximity of one of Oklahoma’s “STACK play” in the Anadarko Basin one of the best unconventional oil plays in the US with plenty of historical reports and geological data available.
Although the agreed upon transaction referred to in its announced agreement is not a Change of Business (“COB”) or a Reversed Takeover (“RTO”) or part of it, it is still considered to be a “Fundamental Acquisition” and the Company is submitting all required documentations to the TSX-V for its conditional acceptance whereby the trading of MHI’s shares is temporarily halted until such acceptance has been received by the Company.
After the pending purchase agreement, Mineral Hill Industries (“MHI”) will own 100% working interest in leaseholds located in Beaver, Canadian, Creek, Kingfisher, Major, and Okmulgee Counties, Oklahoma. The entire leasehold estate is aproximately 4300 acres covering the Anadarko basin, Arkoma, Cana, Scoop, and Stack. Read more…