Vancouver, BC, Canada – November 8th, 2021
MINERAL HILL ANNOUNCES PRIVATE PLACEMENT TO COMPLETE THE 100% ACQUISITION OF THE DOT-APEX CLAIM GROUP IN
Mineral Hill Industries Ltd. (“Mineral Hill” or “Company”) listed on the TSX Venture exchange (“TSXV”) under the trading symbol “MHI” and on the Deutsche Boerse, Frankfurt under the trading symbol “MLN” wishes to announce that after completion of its initial funding and the respective exploration program for the acquisition of the DOT-Apex claim group, the Company is committed to exercise its exclusive option to acquire a 100% interest in the DOT-Apex claims as approved by its Board of Directors.
In connection with the intended exercise of the option referred to above, Mineral Hill is initiating a CAD $ 300,000 private placement comprised of 1,200,000 common shares at CAD $0.25 per share. The proceeds of the private placement will be used to complete the second phase of its exploration plans for the acquisition of 100% of the DOT-Apex claim group as well as to meet the Company’s administrative requirements.
Mr. Daniel G. Cardinal, P. Geo., F.G.A.C. and acting Q.P. of the Company, has committed to continue leading the Company’s exploration team by following the protocols under the National Instrument 43-101 guidelines.
Certain directors and officers of the Company may acquire common shares 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 shares issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.
ABOUT MINERAL HILL INDUSTRIES LTD
Mineral Hill is a publicly trading junior mining company focused on the acquisition, exploration, development and possible mining of natural resources, with the presently primary objective of developing the Dot-Apex Claim Group (“Apex Claims”) and the Master-ACE Claim Group (“ACE Claims”), located in south-western British Columbia. The Apex Claims consist of contiguous claim cells totalling 2,406.13 hectares and the ACE Claims totalling 695.09 hectares.
The Company seeks Safe Harbour
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the property option referred to above will be exercised or the private placement referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.
The securities which may be 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.
FOR FURTHER INFORMATION CONTACT:
Dieter Peter, President & CEO; Phone: +1 (604) 617-6794