Non-Brokered Private Placement
Vancouver, BC, Canada – March 27, 2013
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.
Non-Brokered Private Placement
Mineral Hill Industries Ltd. (the “Company” or “MHI”) wishes to announce it will use its best efforts to sell by private placement consisting of up to 3,700,000 units at $0.15 per unit (“Unit”) for total proceeds of up to $555,000. Each Unit will be comprised of one common share and one transferable common share purchase warrant. Each warrant forming part of a Unit is exercisable for one additional common share for a period of two years from the date of closing. Each warrant will be exercisable for one additional common share at $0.20 per share.
The Company will apply the proceeds from the private placement towards its existing projects, new acquisitions and working capital to fund ongoing operations.
Certain directors and officers of the Company may 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 shareholder approval requirements of MI 61-101 as neither the fair market value of any units issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.
This private placement is subject to regulatory approval.
About Mineral Hill Industries Ltd.
Mineral Hill Industries Ltd. is a Canadian-based Gold and Lithium Exploration and Development Company trading on the TSX Venture Exchange (MHI), the Frankfurt Exchange (N8Z), and the OTC Pink Sheets (MHIFF).
Mineral Hill has recently acquired a fifty percent participation as operator of an open pit “placer gold” project which had been previously in production. The “Liberty Hill Mine” consists of 127 fee simple unpatented mining claims totaling 2,444.75 acres in the heart of the historical California Gold Rush. The Company intends to test a 40,000 cubic yard stockpile of gold bearing material to verify the historical data of the Liberty Hill Gold Mine and to take steps towards bringing the mine into production during 2012/13. Additionally the Company holds the options on a portfolio of four quality lithium properties in Canada, which will make Mineral Hill one of the largest potential lithium landholders in Québec after Canada Lithium Corp.
For further information, please visit www.mineralhill.com or contact:
President & CEO
Telephone: (604) 685-4170
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.