MINERAL HILL ANNOUNCES PROPOSAL CONSOLIDATION OF ITS COMMON SHARES
The Company wishes to announce that at the upcoming annual general meeting (“AGM”) to be held on July 8, 2011, an ordinary resolution will be proposed for a consolidation of its existing share capital on the basis of up to twelve (12) pre-consolidated common shares for one (1) post-consolidated common share of Mineral Hill Industries Ltd. The Board will seek authorization from the shareholders to use its discretion, to decide at its future meetings whether to implement a consolidation or not and if so, in setting the consolidation ratio.
The Directors believe that the share consolidation may be conducive to new equity investment in the Company in view of the 20,970,000 warrants and 42,115,058 common shares currently issued and outstanding. The share consolidation, if so implemented by the Directors, will be subject to acceptance by the TSX Venture Exchange. Further details of the proposed resolution are contained in the Company’s information circular dated June 6, which is available electronically at www.sedar.com
The Company also wishes to announce the resignation of Mr. John Punzo as a director of the Company and wishes him success in his future endeavours.
For more information on Mineral Hill Industries Ltd. and its projects, please contact:
President and CEO
Telephone: (604) 685-4170
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