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Mineral Hill Provides Closing Details of First Tranche of First Private Placement Announced on February 3rd, 2020
Mineral Hill Provides Closing Details of First Tranche of First Private Placement Announce...
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[{"type":"text","content":"\n\n\n\nMineral Hill Provides Closing Details of First Tranche of First Private Placement Announced on February 3rd, 2020\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 13, 2020\n\n\n\nToronto: TSX-V: MHIFrankfurt: N8Z1/WKN: AODLHP OTC Market (US): MHIFF \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.   \n VANCOUVER, Feb. 13, 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 its first non-brokered private placement (\"PP1\") in the total amount of C$2,500,000 as announced on February 3, 2020, generated a strong investor interest and oversubscribed the anticipated amount for the first of three Tranches.\nMHI closed today the first Tranche of PP1 and committed to the issuance of 1,335,084 common shares at a deemed issue price of C$1.00 per share resulting in proceeds to the Company of C$1,335,084. MHI expects to close the remaining two Tranches of PP1 very shortly whereby no finder's fees will be paid by the Company in connection with the private placement. After closing of PP1, MHI will immediately proceed with the closing of private placement \"PP2\" as committed under the terms of the Definitive Acquisition Agreement announced on February 3, 2020. \nAs previously announced, the Company designated the proceeds from PP1 for general working capital, development of existing assets and additional acquisitions which includes the possible buyout of minority partnership interest in existing REIT assets.\nAbout Mineral Hill Industries (\"MHI\"):MHI is in the proc...