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Mineral Hill Executed Definitive Agreement for the Acquisition of the "REIT Company"
Mineral Hill Executed Definitive Agreement for the Acquisition of the "REIT Company" ...
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[{"type":"text","content":"\n\n\n\nMineral Hill Executed Definitive Agreement for the Acquisition of the \"REIT Company\"\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\n\nCanada NewsWire\nVANCOUVER, Feb. 3, 2020\n\n\n\nThe 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 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.\nToronto: TSX-V: MHIFrankfurt: N8Z1/WKN: AODLHP OTC Market (US): MHIFF \n VANCOUVER, Feb. 3, 2020 /CNW/ - Mineral Hill Industries Ltd. (\"MHI\" or \"Company\"), trading on the TSX Venture Exchange (\"TSXV\") under the trading Symbol \"MHI\", on the Deutsche Boerse, Frankfurt under the trading Symbol \"N8Z1 wishes to announce that following to its binding LOI announced on October 9, 2019 (the \"LOI\"), the Company has executed the Definitive Acquisition Agreement (\"DA-Agr\"), dated January 28, 2020, with Southern Colorado Real Estate Ventures Holdings LLC (\"SCRH\"). SCRH is a privately held \"REIT\" company incorporated under the laws of the state of Florida, USA, and registered under the ID Number L190001794455. SCRH leases its real estate tracts and properties which it assembled over the past six years and leased to RV-parks, agriculture cultivation centers and Cannabis dispensaries in Florida and Colorado. \nAfter several meetings between MHI's and SCRH's (the \"Parties\") management in Florida, Colorado and Vancouver and in compliance with the \"Change\" and \"Delay\" Provision within the LOI, the Parties agreed to include 44 RV development sites and  additional 48 building lots with \"Rate of Growth Ordinance\" (\"ROGO\") licenses to accommodate single family, mobile homes, or modular houses to the SCRH's assets (\"REIT-Assets\") for the acquisition which were not included under the acquisition proposal pursuant to the LOI. These added, very essential REIT Assets, increased the...