Early Warning News Release FOR Dieter Peter, President and CEO of Mineral Hill Industries and Merfin Management Limited
Tel :604-617-6794
Fax:250-707-8111
Email:[email protected]
Toronto: TSX-V: MHI
Frankfurt: MLN/WKN: A1JKJN
OTC Market (US): MHIFF
NEWS RELEASE
Vancouver, BC, Canada – April 13, 2022
EARLY WARNING NEWS RELEASE FOR DIETER PETER, PRESIDENT
AND CEO OF MINERAL HILL INDUSTRIES AND
MERFIN MANAGEMENT LIMITED
Dieter Peter, president, chief executive officer and a director of Mineral Hill Industries Ltd (“MHI”
or “Company”) and Merfin Management Limited (“MRF”), private holding Company’s and MHI’s
current controlling shareholder, has initiated the possible sale of 11.0 million common shares of MHI
held by MRF (the MRF/MHI-Shares) at a price between US$ 0.03 and US$ 0.05 per MRF/MHI-Share
pursuant to an exclusive purchase option (the “Call-Option”) granted to Fairmont Resources Limited
and its affiliates (“Fairmont” or “Optionee”). The Call-Option can be exercised in two steps.
Fairmont Resources Limited is a private company incorporated and existing under the laws of England
and Wales, of which Mr. Kevin Collins is founder and controlling shareholder.
MHI has currently 20,724,807 common shares (“MHI-Shares”) and 474,648 share purchase warrants
(“Warrants”) outstanding of which MRF owns 11,677,646 MHI-Shares plus 129,980 Warrants and
Mr. Peter owns 1,752,965 plus 115,000 Warrants, representing respectively 55.70% and 8.81% of the
Company's issued and outstanding securities.
As a result of Fairmont’s Call-Option and pursuant to its full execution (the “Call-Option
Transaction”), the Fairmont group will own 11,000,000 MHI-Shares, MRF will own 677,646 MHI-
Shares plus 129,980 Warrants and Mr. Peter will still own 1,752,965 shares plus 115,000 Warrants of
MHI, representing respectively a ownership of 51.89% by Fairmont, 3.81% by MRF and 8.81% by
Mr. Peter’s ownership of the Company's current issued and outstanding securities.
The share transfer via the Call-Option Transaction will represent a change of control and will require
the approval of disinterested shareholders.
Fairmont, either directly or through its subsidiaries and/or affiliates has entered into acquisition and
significant financing agreements to acquire and finance substantial precious mineral and gem-stone
projects located in South Africa and Sierra Leone and assembled a highly qualified exploration and
mining team.
Under the terms of the Call-Option granted by MRF, Fairmont has committed to continue to raise for
MHI an initial equity financing as working capital via a private placement of CAD 150,000, the greater
of CAD$0.25 per share or the market price after resuming trading on the TSX Venture Exchange.
Details about the Company’s PP1 will be announced by MHI subsequently to its stock having resumed
trading.
#170- 422 Richards Street,
Vancouver, BC, Canada, V6B 2Z4
www.MineralHill.com
Tel :604-617-6794
Fax:604-568-9844
Email:[email protected]
2
The Call-Option becomes effective only subsequently to the closing of the PP1, the approval of MHI’s
disinterested shareholders and subject to the acceptance by the TSX Venture Exchange.
Fairmont is also desirous to continue and support MHI’s present exploration and development of its
gold mining projects located in British Columbia as announced previously by MHI and enhance
MHI’s management with its highly qualified operational and administrative staff and MHI’s board of
directors welcomes the opportunity for a possible future integration of Fairmont’s gem-stone projects
located in South African and Sierra Leone.
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.
The Company seeks Safe Harbor.
For further information contact the Company or:
Dieter Peter, President & CEO; Phone: (604) 617-6794