Business
Mineral Hill Announces Mineral Property Acquisition
TSX Venture Exchange: MHI Frankfurt Stock Exchange: N8Z/WKN: AODLHP Pink Sheets: MHIFF ...
About this update from Gold Strategy Inc.
[{"type":"text","content":"\n\n\n\n\n\nTSX Venture Exchange: MHIFrankfurt Stock Exchange: N8Z/WKN: AODLHP\nPink Sheets: MHIFF\n\n\nVANCOUVER, March 15, 2012 /CNW/ - Mineral Hill Industries Ltd (\"Mineral\n Hill\") is pleased to announce that it has entered into a mineral\n acquisition agreement (the \"March Agreement\") to purchase outright one\n hundred (100%) interest in a property consisting of 8 registered\n mineral claims and 7 pending mineral claims (the \"Property\") covering\n approximately 704.64 hectares located approximately 40 kilometres\n northwest of the mining town of Val d'Or and 13 kilometres south of\n Amos in Quebec, Canada.  This Property is important and complementary\n to the Company's four other lithium properties in Quebec and will\n increase Mineral Hill's lithium property holdings to approximately\n 4,266 hectares. The acquisition will not only keep the Company in the\n forefront of the most significant lithium property holders in Quebec,\n but will also make Mineral Hill's future exploration efforts more cost\n efficient. All of Mineral Hill's lithium properties are well located\n with respect to access roads and transportation and are partly only 700\n meters east-southeast of the old Quebec Lithium Mine property boundary\n line.\n\n\nIn consideration for this March Agreement for the new property, the\n Company will pay the vendors five hundred and fifty thousand (550, 000)\n common shares of the Company.  The Vendor has agreed to the conditions\n that two hundred and fifty thousand common shares (250,000) will be\n legended with a sale restriction of four months and a day and the\n remaining three hundred thousand (300,000) common shares will be\n legended with a hold period of one year from the date of issue of the\n shares.  This transaction is subject to the Company being satisfied\n with the title to the Property and the approval from the TSX Venture\n Exchange.\n\n\nThe demand for lithium has been growing in the past years as it is the\n mineral of choice for use in lithium-ion batteries, in hybrid cars,\n laptops, cell phones and MP3 players.\n\n\nAbout Mineral Hill Industries Ltd.\n\n\nMineral Hill Industries Ltd. is a Canadian based mineral exploration and\n development company trading on the TSX Venture Exchange (MHI), the\n Frankfurt Exchange (N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF).\n Minera...