May 29, 2018 - 9:08 AM EDT
Print Email Article Font Down Font Up Charts
Mineral Hill receives final acceptance to acquire the proposed Oil & Gas Production Leasehold Estate in Oklahoma

Mineral Hill receives final acceptance to acquire the proposed Oil & Gas Production Leasehold Estate in Oklahoma

Canada NewsWire

The securities being 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.

VANCOUVER, May 29, 2018 /CNW/ - Mineral Hill Industries Ltd. ("Mineral Hill" or the "Company") announced on April 27, 2018 that it had received "Conditional Acceptance" from the TSX Venture Exchange ("TSX-V") for its proposed acquisition of the privately held and operated Oil & Gas Leasehold Estate, located close to one of Oklahoma's "STACK play" in the Anadarko Basin. The open condition for the final acceptance was the submission of the by the Company commissioned NI-51-101 report and its acceptance by the TSX-V.

On Friday afternoon, May 25, 2018 the Company received confirmation from the TSX-V that its submitted final Geological Report entitled "Appraisal of Certain Oil and Gas Interests Located in Oklahoma, as of March 1, 2018" including the Proved Undeveloped Reserves ("PUD") estimation and classification methodology were NI 51-101 compliant and as such accepted. Mineral Hill will file the final report on

As the TSX-V had no further comments regarding the geological report which was the only open item for final TSX-V acceptance, the terms and conditions under the Definitive Acquisition Agreement become now effective on May 30, 2018, and the Company intends to close the Private Placement announced on May 1, 2018 in order to continue its production improvements on its 4,300 acres Oil & Gas Leasehold Estate in close cooperation with the Vendor and his operating company which is well established and licensed in Oklahoma.

The Company seeks Safe Harbor

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.

View original content:

please contact: Dieter Peter, President & CEO Phone: (604) 617-6794Copyright CNW Group 2018

Source: Canada Newswire (May 29, 2018 - 9:08 AM EDT)

News by QuoteMedia

Legal Notice