Muzhu Mining arranges $500,000 private placement

Executive Summary

• Muzhu Mining Ltd. announced a non‑brokered private placement of up to 6.25 million units at $0.08 per unit, potentially raising up to $500,000.
• Each unit consists of one common share and one non‑transferable warrant exercisable for an additional share at $0.12 within two years (with acceleration clause).
• Proceeds are earmarked for general working capital and to advance Muzhu’s exploration projects in Canada and China.

Key Details

• Offering size: Up to 6,250,000 units.
• Price per unit: $0.08 (C$ 0.08), total potential proceeds of up to $500,000.
• Unit composition: 1 common share + 1 non‑transferable warrant.
• Warrant terms: Exercise price $0.12 per share; exercisable for two years; acceleration provision if the company’s shares trade ≥ $0.15 for 15 consecutive days – warrants may be forced to be exercised within 30 days of notice.
• Hold period: All securities subject to a lock‑up of four months and one day from closing date.
• Use of proceeds: General working capital and further development of exploration projects (Sleeping Giant South in Quebec; XWG, LMM, and WLG properties in Henan Province, China).
• Finder’s fee: payable in cash, shares and/or warrants to eligible finders, subject to CSE policies.
• Regulatory approvals: Offering and finder‑fee payment require approval by the Canadian Securities Exchange (CSE).

Notable Quotes

(No direct quotes were provided in the release.)