Mineral Hill Announces Completion of Shares-for- Debt Settlement
Tel :604-617-6794
Fax:604-568-9844
Email:[email protected]
#170- 422 Richards Street,
Vancouver, BC, Canada, V6B 2Z4
www.MineralHill.com
Toronto: TSX-V: MHI
Frankfurt: MLN/WKN: A1JKJN
OTC Market (US): MHIFF
NEWS RELEASE
Mineral Hill Announces Completion of Shares-for-
Debt Settlement
Vancouver, BC, Canada – May 14, 2021
Mineral Hill Industries Ltd. (the “Company” or “Mineral Hill”) a precious metals exploration
company wishes to announce that it has received the approval of the TSX Venture Exchange
(“TSXV”) for the on April 30, 2021 announced “Shares for Debt” transaction, to settle the
aggregate of $286,711 in loans to insiders of the Company, through the issuance of 1,274,271
common shares of the Company (“Share”) at a deemed price of $0.225 per Share (“Debt
Settlement”).
The Debt Settlements represent accumulated interest-free cash payments received from Merfin
Management Limited (“Merfin”), a controlling shareholder of the Company of which Mr. Dieter
Peter is President, and Andrew von Kursell (‘AvK”), a Director and Chairman of Mineral Hill’s Audit
Committee (jointly called (”Insider-Loans”).
The Insider Loans were provided for project payments, general working capital in order to keep
the Company in good standing and to be able to meet its administrative obligations including the
required fees to regulatory bodies since December 2018.
All Shares being issued to eliminate the Insider-Loans are considered to be a “related party
transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The Company will be
relying on exemptions 5.5(g) and 5.7(e) of MI 61-101 and will be exempt from the formal valuation
and minority shareholder approval requirements and will, pursuant to the Debt Settlement
agreement, have a voluntary four-months hold period from the issuance date thereof and will have
no share purchase warrants attached.
The Company seeks Safe Harbor
For further information contact the Company or: Dieter Peter, President & CEO; Phone: (604) 617-6794
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 forwa rd-looking statements. There is no
assurance the private placement, property option or reinstatement of trading 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
#170- 422 Richards Street,
Vancouver, BC, Canada, V6B 2Z4
www.MineralHill.com
Tel :604-617-6794
Fax:604-568-9844
Email:[email protected]
2
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.