Mineral Hill Announces Amendment of Private Placement
Trading Symbols:
TSX Venture Exchange: MHI
Frankfurt: MLN/WKN: A1JKJN
OTC Market (US) Pink Sheets: MHIFF
NEWS RELEASE
HO:
#170- 422 Richards Street, Tel : 604-617-6794
Vancouver, BC, Canada, V6B 2Z4 Fax:604-568-9844
www.MineralHill.com Email:[email protected]
1
MINERAL HILL ANNOUNCES AMENDMENT OF PRIVATE PLACEMENT
Vancouver, BC, Canada – December 13, 2021
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 the private placement announced on November 8,
2021 has been amended to reflect a bridge financing necessary to commence its due diligence under
the terms of the Memorandum of Understanding (“MOU”) announced on November 17, 2021 with an
overseas corporation which is involved in the business of acquiring and financing mineral resource
assets consisting of alluvial gems and minerals located in South Africa (“RTO-Project”).
On November 26, 2021, the Company announced that it had completed its first stage exploration
program of the precious metals claims located in British Columbia under an exclusive Earn-In-Option
(“BC-Project”) and submitted the related exploration samples to the analytical laboratory which
confirmed now that the Company can expect to receive its requested analytical results by next week.
As Mineral Hill’s continuing exploration program is planned for early next year, taking into
account the present weather conditions, the Company wishes to pursue its due diligence in respect to
the RTO-Project. Considering that its due diligence may lead to a definitive acquisition agreement
(“DA-Agr”) resulting in a possible Reverse Takeover (“RTO”), and in order to keep the exploration
funds of the BC-Gold-Project separate from the cost of the due diligence for RTO-Project and to meet
the requirements of the TSX Venture (“TSXV”), the Company wishes to announce that the private
placement announced on November 8, 2021 has been amended to a reduced amount of $150,000
comprised of 600,000 common shares at $0.25 per share as bridge financing for the due diligence.
The financing will meet each criteria of Policy 5.2, section 5.3 “Bridge Financing” and will be
used for covering costs such as legal fees, audit fees and due diligence associated with proceeding to
completion of a possible RTO. No payments will be made to the vendor.
Mineral Hill is confident that, if its due diligence leads to the execution of a DA-Agr, any additional
financing for the final acquisition of the BC-Project can be combined within the time frame of a
possible RTO financing.
THE COMPANY SEEKS SAFE HARBOUR
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
2HO:
#170- 422 Richards Street, Tel :604-617-6794
Vancouver, BC, Canada, V6B 2Z4 Fax:604-568-9844
www.MineralHill.com Email:[email protected]
2
developing the Dot-Apex Claim Group (“Apex Claims”) and the Master-ACE Claim Group (“ACE
Claims”), located in south-western British Columbia ( the “BC-Project”).
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.
FOR FURTHER INFORMATION CONTACT:
Dieter Peter, President & CEO; Phone: +1 (604) 617-6794