Mineral Hill Industries Ltd. (TSXV:MHI) signed a letter of intent to acquire additional oil producing assets in Oklahoma from a privately held oil & gas company on January 14, 2019. The final consideration will be satisfied through the issuance of the number of shares of Mineral Hill Industries Ltd. equal to (a) the NI 51-101 valuation discounted by the assumed liabilities portion, divided by (b) the deemed share price of Mineral Hill Industries Ltd. of CAD 1.1 (the "consideration-share-price"), subject to a possible adjustment of the consideration-share-price, whereby the total shares of Mineral Hill Industries Ltd. issued are to represent not less than 40% and not more than 50% of the fully diluted post-closing capital stock of Mineral Hill Industries Ltd. Mineral Hill Industries Ltd. and the oil & gas company agreed to adjust the consideration-share-price so that the total shares of Mineral Hill Industries Ltd. to be issued for additional oil producing assets in Oklahoma are to represent not less than 40% and not more than 50% of the fully diluted post- closing capital stock of Mineral Hill Industries Ltd. The shares of Mineral Hill Industries Ltd. issued as consideration for additional oil producing assets in Oklahoma may be escrowed at the request by the TSXV and may be subject to restrictions on resale relating to hold periods, insider trading and control persons, and that the escrow shares shall be deposited in escrow and released subject to certain conditions as set forth in the escrow agreement. The effective date of the deal will be the fifth banking day after the approval of the TSXV and after approval by the regulatory authorities in respect to the Chapter 11.