MINERAL HILL ANNOUNCES CONSOLIDATION OF ITS COMMON SHARES
Mineral Hill Industries Ltd. wishes to announce that the Company’s common shares are expected to begin trading on a post-consolidation basis when markets open on September 9, 2011.
As announced in the Company’s news release dated August 29, 2011, shareholder authorization to effect the share consolidation was approved at the annual general meeting held on July 8, 2011 and the Board of Directors approved the implementation of the share consolidation on August 29, 2011 on a basis of twelve (12) pre-consolidated common shares to one (1) post-consolidated common share. The share consolidation has been accepted by the TSX Venture Exchange.
There will be no name change in conjunction with the share consolidation and the Company’s common shares will continue to be traded under the symbol “MHI” on a post consolidation basis, under the new CUSIP 60283T207/ISIN CA 60283T2074.
Letters of transmittal with respect to the consolidation will be mailed out to all registered shareholders on/about September 12, 2011. All registered shareholders of the Company who have not deposited their shares with a securities broker, will be required to send their certificates representing pre-consolidation common shares with a properly executed letter of transmittal to the Company’s transfer agent, Computershare Investor Services Inc., in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare Investor Services Inc. All shareholders who duly complete letters of transmittal will receive post-consolidation common share certificates. No certificates representing fractional post-consolidation common shares will be issued pursuant to the consolidation. If shareholders have their shares deposited with a securities broker, the brokerage firm will usually take care of the proper share exchange.
Following consolidation and subject to rounding, the Company will have 3,509,588 common shares issued and outstanding. All outstanding options and warrants will be adjusted accordingly to reflect the share consolidation.
For more information on Mineral Hill Industries Ltd. and its projects, please contact:
President and CEO
Telephone: (604) 685-4170
Neither 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 news release.