Business
Mineral Hill announces termination of agreement and intent to acquire interest in gas production rights
Mineral Hill announces termination of agreement and intent to acquire interest in gas prod...
About this update from Gold Strategy Inc.
[{"type":"text","content":"\n\n\n\nMineral Hill announces termination of agreement and intent to acquire interest in gas production rights\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMineral Hill announces termination of agreement and intent to acquire interest in gas production rights\nCanada NewsWire\nRICHMOND, BC, Dec. 10, 2015\n\n\n\nTrading Symbols:  TSX Venture Exchange: MHIFrankfurt Stock Exchange: N8Z1/WKN: AODLHPPink Sheets: MHIFF\n\n\n\nRICHMOND, BC, Dec. 10, 2015 /CNW/ - Mineral Hill Industries Ltd. (the \"Company\" or \"MHI\") wishes to announce that after exhaustive reviews and due diligence, which included a trip to Europe by the President and CEO and subsequent investigations, the Company has terminated its November 2014 agreement with Avis Energy Global Holdings Inc. (\"AEG\") and discontinued any and all further discussions with AEG due to what the Company perceives as incomplete disclosure and misrepresentation by AEG and its ownership of the announced technology.\n\nThe Company is continuing to pursue its opportunities within the waste to energy industry sector and is in discussion with the inventors and respective patent holders of different energy converting systems. \n\nThe Company wishes to announce that it has signed the Heads of Terms (\"HOT\" or \"LOI\") with four independent shareholders (the \"Shareholders\") of CPS Energy Resources Plc (\"CPS\"), an Energy Resource company incorporated under the Laws of England and Wales and having its registered office at 106 Mount Street, London W1K 2TW to acquire their interest which represents 45% (the \"Acquisition\"). CPS Energy Resources entered into an option agreement to jointly develop the contract area covered by OPL 236 (the \"Project\"). After commercial, technical and legal due diligence, CPS has exercised its option to acquire an 80.75% participating interest in the Production Sharing Contract for OPL 236 subject to receipt of corporate and regulatory approvals including Ministerial consent which are expected to be obtained in the near future, further to which full asset transfer shall take place. An indepe...