Mineral Hill Industries Ltd. Provides Closing Details of First Tranche of First Private Placement Announced on February 3rd, 2020

VANCOUVER, Feb. 13, 2020 - Mineral Hill Industries Ltd. ("MHI" or "Company"), trading on the TSX Venture Exchange ("TSXV") under the trading Symbol "MHI", on the Deutsche Boerse, Frankfurt under the trading Symbol "N8Z1" wishes to announce that its first non-brokered private placement ("PP1") in the total amount of C$2,500,000 as announced on February 3, 2020, generated a strong investor interest and oversubscribed the anticipated amount for the first of three Tranches.

MHI closed today the first Tranche of PP1 and committed to the issuance of 1,335,084 common shares at a deemed issue price of C$1.00 per share resulting in proceeds to the Company of C$1,335,084. MHI expects to close the remaining two Tranches of PP1 very shortly whereby no finder's fees will be paid by the Company in connection with the private placement. After closing of PP1, MHI will immediately proceed with the closing of private placement "PP2" as committed under the terms of the Definitive Acquisition Agreement announced on February 3, 2020.

As previously announced, the Company designated the proceeds from PP1 for general working capital, development of existing assets and additional acquisitions which includes the possible buyout of minority partnership interest in existing REIT assets.

About Mineral Hill Industries ("MHI"):
MHI is in the process of changing its business direction by launching a RTO transaction with a privately held "REIT" company which leases its real estate tracts and properties to RV-parks, agriculture cultivation centers and Cannabis dispensaries in Florida and Colorado ("Transaction").
Subsequent to the regulatory approval of the Transaction MHI will be trading under the name of MHI REIT CORPORATION ("MRC") and focus on its unique, specialty real estate assets that generate multiple revenue streams in rapidly growing sectors in North America. MRC assets will provide investors access to unique, diversified real estate opportunities that generate positive cash flow and provide a solid foundation for the Company's objective to expand its business internationally.

"Completion of the Transaction is subject to a number of conditions, including but not limited to, the acceptance by the TSXV and, if applicable, the disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval and the acceptance of the Transaction by the TSXV are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Mineral Hill Industries Ltd.'s shares are highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release."

Neither the 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 release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the Company's business and operations including development expansion plans and our general business plans. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: compliance with extensive government regulation, the general business, economic, competitive, political and social uncertainties; successful negotiation of necessary agreements; requirement for further capital, delay or failure to receive board, shareholder or regulatory approvals; the results of operations and such other matters as set out in the Filing Statement available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

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

contact the Company or: Dieter Peter, Director & CEO, Phone: 1-(604) 617-6794 or 1-(800)-881-1528