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Mineral Hill Industries enters into agreement to acquire an Oil & Gas production Leasehold Estate in Oklahoma
Mineral Hill Industries enters into agreement to acquire an Oil & Gas production Lease...
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[{"type":"text","content":"\n\n\n\nMineral Hill Industries enters into agreement to acquire an Oil & Gas production Leasehold Estate in Oklahoma\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 Industries enters into agreement to acquire an Oil & Gas production Leasehold Estate in Oklahoma\nCanada NewsWire\nVANCOUVER, April 27, 2018\n\n\n\nThe securities being 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. \n\n\n\nVANCOUVER, April 27, 2018 /CNW/ - Further to the Company's news release dated February 21, 2018 Mineral Hill Industries Ltd. (\"MHI\" or the \"Company\") wishes to announce that it has signed a Definitive Acquisition Agreement (\"DA-Agr\") based on the terms of the on Febrary 21, 2018 announced closing of a Letter of Intent \"LOI\"). \n\nMHI has also received \"Conditional Acceptance\" for the transaction from the TSX Venture Exchange (\"TSX-V\"). Under the DA-Agr MHI will acquire a privately held Oil&Gas operated Leasehold Estate of approximately 4,300 acres, located close to one of Oklahoma's \"STACK play\" in the Anadarko Basin which is considered one of the best unconventional oil plays in the USA. \n\nThe entire Leasehold Estate is held by seven corporate owners (the \"Seller\") and consists of twelve Oil & Gas producing wells and properties in the reported categories of \"Non-Producing\", \"Proved Undeveloped\" and \"Probable Undeveloped locations (the \"Estate-Assets\") as well as certain operating equipment and Seller's assignment of an option to acquire a well established operating company registered in Oklahoma which could serve MHI as future  operating entity. \n\nThe consideration for the acquisition is US$ 3,000,000 (\"Acquisition-Price\") to be fulfilled through scheduled cash payments over a period of three years (...