Trading Symbols:
TSX Venture Exchange: MHI
Frankfurt: MLN/WKN: A1JKJN
OTC Market (US) Pink Sheets: MHIFF
VANCOUVER, BC, Nov. 8, 2021 /CNW/ - Mineral Hill Industries
Ltd. ("Mineral Hill" or "Company") (TSXV:
MHI) 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.
SOURCE Mineral Hill Industries Ltd.
