PRIVATE PLACEMENT AND XETRA QUOTATION
Richmond, BC, Canada – July 28, 2017
In respect to the Company’s news release dated March 2, 2017, Mineral Hill Industries Ltd. (“Mineral Hill” or “Company”) wishes to announce that certain subscribers of the announced private placement had to be replaced but the Company intends to soon complete a non-brokered private placement of up to 3,000,425 securities units (the “Unit(s)”) in the capital of the Company at a price of $0.30 per Unit for a total proceeds of up to $900,128. Each Unit will consist of one common share and one transferable common share purchase warrant (“Warrant”). Each Warrant is exercisable for three years from the date of issuance at $0.40 during the first year, $0.50 during the second year and at $0.80 during the third year from the date of issuance. A finder’s fee will be paid by the Company to non-insiders in connection with the completion of the private placement.
As announced previously, certain directors and officers will acquire units under the private placement. Any such participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction will be exempt from the formal valuation and minority approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.
Further, the Company wishes to clarify that Deutsche Börse (German Stock Exchange, Frankfurt) is introducing a new system to its Xetra listings, where in future only securities that are “DTC” eligible, the Depository Trust Company (DTC) is a securities depository based in the U.S., are able to be listed on “Xetra”. This new regulation excludes presently MHI’s Xetra quotation, as the Company is only eligible for Canadian Depository for Securities (“CDS”), but Mineral Hill will remain co-listed on the Frankfurt, Berlin and Munich quotation platforms.
The Company seeks Safe Harbor
For further information, please contact:
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.