Mineral Hill Announces the Execution of an LOI in Respect to the Acquisition of a REIT Company
05.09.2019 | CNW
VANCOUVER, Sept. 5, 2019 - Mineral Hill Industries Ltd. ("Mineral Hill" or "Company"), trading on the TSX Venture Exchange under the trading Symbol "MHI", on the Deutsche Boerse, Frankfurt under the trading Symbol "N8Z1 wishes to announce that in reference its News Release NR-190724, the Company followed up on qualifying projects and entered into a non-binding Letter of Intent with a privately held "REIT" company ("LOI-1909") registered in the United States ("Target-REIT") which, over the last five years, has assembled real estate tracts and properties in certain states of the USA which Target-REIT leases to RV-parks, agriculture cultivation centers and Cannabis dispensaries.The LOI-1909 provides the basic terms for a resulting RTO and the change of business direction including a private placement funding commitment by the shareholders of Target-REIT, to be articulated in more detail in the to be finalized Definitive Acquisition Agreement DA-Agr-REIT.
The Company met with the owner of Target-REIT and its legal representation to provide detailed background information to each other and the parties are continuing its due diligence and preparation to finalize the DA-Agr-REIT for execution.
On behalf of the Board of Directors
Dieter Peter, President & CEO
Phone: (604) 617-6794
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.
The 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.
SOURCE Mineral Hill Industries Ltd.
Contact
Dieter Peter, President & CEO, Phone: (604) 617-6794