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Mineral Hill Announces the Execution of an MOU with an International Gems and Minerals Corporation
Mineral Hill Announces the Execution of an MOU with an International Gems and Minerals Co...
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[{"type":"text","content":"\n \n \n \n Mineral Hill Announces the Execution of an MOU with an International Gems and Minerals Corporation\n \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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Toronto\n \n : TSX-V: MHI\n \n \n Frankfurt\n \n : MLN/WKN: A1JKJN\n \n OTC Market (US): MHIFF\n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 17, 2021\n \n /CNW/ - Mineral Hill Industries Ltd. (\"\n \n Mineral Hill\n \n \" or \"\n \n Company\n \n \"), listed on the TSX Venture Exchange (\"\n \n TSXV\n \n \") under the trading Symbol \"MHI\", and on the Deutsche Boerse,\n \n Frankfurt\n \n under the trading Symbol \"MLN\" wishes to announce that the Company has executed  a non-binding Memorandum of Understanding (\"MOU\") with an overseas corporation (\"GEMSco\") which is involved in the business of acquiring and financing mineral resource assets consisting of alluvial gems and minerals located in\n \n South Africa\n \n . This is in addition to the Company's undertaking to acquire the Dot-Apex and Master-ACE claim groups  in\n \n British Columbia\n \n (the \"BC-Transaction\") for which the Company announced the second tranche of a private placement on\n \n November 8, 2021\n \n to be closed within the next two weeks and is seeking approval of the private placement and final approval of the BC-Transaction by the TSXV.\n \n \n Pursuant to the terms of the MOU, it is intended that the assets and undertakings of GEMSco's affiliated mining and financing groups will combine with Mineral Hill resulting in a Reversed Takeover (\"RTO\") of Mineral Hill by GEMSco by way of share exchange, merger, amalgamation, arrangement, or other similar form of transaction.  The final structure of the RTO is subject to receipt by the parties of tax, corporate, and securities law advice and will be memorialized in a letter of intent expected to be executed in the short term and a definitive agreement thereafter.\n \n \n As part of the proposed RTO, the parties plan for GEMSco to arrange for the completion of a geological assessment report qualifying under...