Muzhu Announces Private Placement
Vancouver - Muzhu Mining Ltd. (CSE:MUZU) (FSE:Y33) (OTCQB:MUZUF) ("Muzhu" or the "Company") is pleased to announce that the Company has arranged a non-brokered private placement of up to 6,250,000 units at $0.08 per unit for an aggregate amount of up to $500,000. Each Unit is comprised of one (1) common share (each, a "Share") of the Company and one (1) non-transferable share purchase warrant (each, a "Warrant"). Each Warrant is exercisable for a period of two (2) years for the purchase of one (1) additional common share of the Company at a price of $0.12 per Share, subject to the following acceleration provision: should the common shares of the Company trade on an exchange for fifteen (15) or more consecutive days at a price of $0.15 or greater, the Company may, at its option, provide written notice to the holder requiring that the Warrants be exercised within thirty (30) days of the date of the notice, failing which the warrants shall immediately thereafter expire. Proceeds will be used for general working capital and to further the Company's exploration projects.
A finder's fee of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to this financing, all in accordance with the CSE policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the CSE.
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.
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