Pink Sheets: MHIFF
As the Company's private placement, which was announced on
The loans by the two companies are considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is in serious financial difficulty, the loans are designed to improve the financial position of the Company, and at least two-thirds of the Company's Directors, acting in good faith, have determined the loans are reasonable in the circumstances of the Company.
Based on commitments, management is confident it will be able to raise the necessary funding for the completion of its testing program on its
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.
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