Mineral Hill Announces Consolidation of its Common Shares
The Company currently has 20,970,000 outstanding warrants of which 20,070,000 are exercisable at $0.10 per share and 900,000 are exercisable at $0.20 per share. As a consequence of the share consolidation, the total number of warrants outstanding will be 1,747,500, comprising of 1,672,500 outstanding warrants with adjusted exercise price of $1.20 per share and 75,000 warrants with adjusted exercise price of $2.40 per share.
The Company also has outstanding options to purchase common shares of the Company totalling 5,790,700 issued to directors, officers, consultants and employees of the Company. Resulting from the consolidation, the options outstanding will be 482,558 and the exercise prices of these options will be adjusted in accordance with the consolidation ratio.
The Company intends to advance its projects to enhance shareholder value and with this share consolidation, the Board is confident that the Company will be able to complete a much required financing with interested parties.
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 further 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