Jun. 16, 2011 (Canada NewsWire Group) --
Trading Symbols:
TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, June 16, 2011 /CNW/ - The Company wishes to announce that at the upcoming annual general meeting ("AGM") to be held on July 8, 2011, an ordinary resolution will be proposed for a consolidation of its existing share capital on the basis of up to twelve (12) pre-consolidated common shares for one (1) post-consolidated common share of Mineral Hill Industries Ltd. The Board will seek authorization from the shareholders to use its discretion, to decide at its future meetings whether to implement a consolidation or not and if so, in setting the consolidation ratio.
The Directors believe that the share consolidation may be conducive to
new equity investment in the Company in view of the 20,970,000 warrants
and 42,115,058 common shares currently issued and outstanding. The
share consolidation, if so implemented by the Directors, will be
subject to acceptance by the TSX Venture Exchange. Further details of
the proposed resolution are contained in the Company's information
circular dated June 6, which is available electronically at www.sedar.com
The Company also wishes to announce the resignation of Mr. John Punzo as
a director of the Company and wishes him success in his future
endeavours.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
For more information on Mineral Hill Industries Ltd. and its projects, please visit the Company's website
at www.mineralhill.com, or contact:
Dieter Peter
President and CEO
Mineral Hill Industries Ltd.
Telephone: (604) 685-4170
Email: dpeter@3xgmm.com