Muzhu Mining arranges $650,000 private placement

May 5, 2022

2022-05-05 11:30 ET – News Release

Mr. Donald Baxter reports

MUZHU MINING ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Muzhu Mining Ltd. has arranged a non-brokered private placement of up to 5,416,667 units for 12 cents per unit, with each unit consisting of one common share and one-half common share purchase warrant, with each full warrant entitling its holder to purchase one common share at 20 cents for a period of one year after issuance. The issuer may pay finders’ fees that consist of: (i) cash or common shares in an amount of up to 7.5 per cent of the gross proceeds of the offering; and (ii) finders’ warrants for up to 7.5 per cent of the number of securities issued pursuant to the offering, with each finder’s warrant entitling its holder to acquire one common share at an exercise price of 12 cents for a period of one year after issuance. The proceeds from the financing will be used to further advance the company’s plans on the Xiao Wa Gou property in the province of Henan, China, and for working capital.

About Muzhu Mining Ltd.

Muzhu Mining is a Canadian, publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds a 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que. As well, Muzhu has executed an option agreement to acquire up to 80 per cent of the Xiao Wa Gou silver-zinc-lead property in the province of Henan, China.

We seek Safe Harbor.

https://muzhumining.ca/