| Mineral Hill Announces Shares for Debt Settlement | |
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Trading Symbols: TSX Venture Exchange: MHI Frankfurt Stock Exchange: N8Z1/WKN: AODLHP Pink Sheets: MHIFF
RICHMOND, BC , Sept. 16, 2014 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or "Mineral Hill") is pleased to announce that its Board of Directors has approved a settlement accepting shares from Kirkland Precious Metals Corp. ("KPM"), a company affiliated through three common directors, in exchange for unpaid debt that had accumulated since December 2012 . Since 2012, the Company has been providing KPM with administrative services and sublease of office space for which the Company has accumulated a receivables balance due from KPM of $109,454 . The Company will receive 2,189,200 common shares of KPM at a deemed price of $0.05 per share as payment for the outstanding balance.
KPM is a reporting Company but has not yet submitted an application for listing its securities on any stock exchange. Mineral Hill and KPM are affiliated through two common directors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mineral Hill Industries Ltd.
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Mineral Hill Industries Ltd.
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CODE : MHI.V |
ISIN : CA60283T2074 |
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Mineral Hill Industries is a gold exploration company based in Canada. Mineral Hill Industries holds various exploration projects in Canada. Its main exploration properties are LAC BARRY and MINERAL HILL in Canada. Mineral Hill Industries is listed in Canada and in United States of America. Its market capitalisation is CA$ 884 800 as of today (US$ 645 368, € 602 839). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.55, and its lowest recent point on November 27, 2009 at CA$ 0.01. Mineral Hill Industries has 11 060 000 shares outstanding. |