Mineral Hill Industries Ltd. - Private Placement Closing

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[{"type":"text","content":"\n\n\n\nTrading Symbols:\n----------------\nTSX Venture Exchange: MHI\nFrankfurt Stock Exchange: N8Z/WKN: AODLHP\nBerlin-Bremen Stock Exchange: AODLHP\nPink Sheets: MHIFF\n\n\nVANCOUVER, July 9 /CNW/ - Mineral Hill Industries Ltd. is pleased to\nannounce that, further to its news releases on May 12, 2009 and May 19, 2009,\nit has closed the private placement with a subscription of 20,000,000 units\nfor total proceeds amounting to $600,000. Each unit consists of one common\nshare and one share purchase warrant. Each warrant is exercisable for one\nadditional common share for a period of five years from the date of closing at\n$0.05 per share for the first year and at $0.10 per share, if exercised after\nthe first year and for the remaining term following the closing.\n\n\nThe Company will pay finder's fees of C$60,000. All of the shares,\nwarrants and any shares issued upon exercise of the warrants comprising the\nunits are subject to a hold period and may not be traded in British Columbia\nuntil October 9th, 2009, except as permitted by the applicable Securities Acts\nand the Rules made thereunder and the policies of the TSX Venture Exchange\n("TSXV").\n\n\nAn amount of $350,000 from the proceeds of the private placement will be\nused for a lithium project in the Province of Quebec and the balance will be\nused to finance continuing operations and acquisitions.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this news release.\n\n\n","length":1636,"tagName":"div"}]

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