Muzhu closes $175,000 private placement

Executive Summary

• Muzhu Mining Ltd. has completed a private placement of flow-through units, raising gross proceeds of $175,000.
• The company issued 1.75 million flow-through units at a price of 10 cents per unit, with proceeds designated for Canadian mineral exploration projects.
• The financing included the issuance of 140,000 share purchase warrants to a finder for cash fees, and all securities are subject to a four-month hold period.

Key Details

• Gross Proceeds: $175,000
• Units Sold: 1.75 million flow-through units
• Price Per Unit: 10 cents
• Unit Composition: Each unit consists of one flow-through common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of 14 cents for a period of three years from the date of issuance.
• Finder’s Fees: $14,000 in cash paid to a finder, accompanied by the grant of 140,000 share purchase warrants.
• Use of Proceeds: Exploration purposes, specifically for Canadian mineral exploration projects.
• Hold Period: All securities are subject to a four-month hold period expiring on January 18, 2026.
• Company Assets:
  • 100% interest in the Sleeping Giant South project (Abitibi greenstone belt, Quebec).
  • Option agreements to acquire up to 80% of the XWG and LMM properties (silver, zinc, lead) in Henan province, China.
  • Exploration agreement at the WLG mine in Henan province, China.