Muzhu Mining Ltd. Closes Private Placement
Muzhu Mining Ltd. (CSE:MUZU) (FSE:Y33) (OTCQB:MUZUF) ("Muzhu" or the "Company") is pleased to announce a private placement of 1,259,000 units at $0.10 per unit for gross proceeds of $125,900. Each Unit is comprised of one (1) common share (each, a "Share") of the Company and one (1) non-transferable share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one (1) common share at a price of $0.14 per Share for the first year and $0.20 per common share for the second year, subject to the following acceleration provision: if the closing price for the common shares of the Company as traded on the Canadian Securities Exchange is equal to or greater than $0.30 per common share for any 20 consecutive trading days (the "Threshold Period") occurring any time after the expiry of the four (4) month hold period, then the subscriber shall have until 4:00 p.m. (Vancouver, BC Time) of the 30th calendar day after the Company's news release announcement of the occurrence of the Threshold Period to exercise the share purchase warrants (the "Accelerated Expiry Date"). The share purchase warrants shall expire on the earlier of the last day of the two (2) year exercise term or the Accelerated Expiry Date. The Issuer shall issue no other notice other than such news release. All of the securities distributed under the foregoing private placement are subject to a four-month hold period from the date of issue, Proceeds will - used for working capital and exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Dwayne Yaretz,
CEO
Muzhu Mining Ltd.
Phone: 778-709-3398
Email: info@muzhumining.ca
Website: www.muzhumining.ca
Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec. As well, Muzhu has executed two option agreements to acquire up to 80% of the Silver, Zinc, Lead XWG and LMM Properties and is currently pursuing an exploration agreement at the WLG mine, all located in the Henan Province, China.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
