Muzhu Mining Closes Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
MUZHU MINING CLOSES NON-BROKERED PRIVATE PLACEMENT
December 20, 2022 - Vancouver, BC; Muzhu Mining Ltd. (CSE: MUZU) (“Muzhu” or
the “Company”) is pleased to announce that the Company has closed its Quebec non-
brokered private placement for 2,500,000 flow-through units (the “F/T Units”) at $0.085
in the capital of the Company with each F/T Unit consisting of one common share to be
issued as a “flow-through share” as such term is defined in subsection 66(15) of the
Income Tax Act (Canada), and associated regulations made thereunder (each a “F/T
Common Share” and collectively the “F/T Common Shares”) and one half ( 1 /2)
common share purchase warrant (each whole common share purchase warrant, a
“Warrant”), with each Warrant entitling its holder to purchase one Common Share at a
price of $0.12 for a period of twenty-four (24) months from the date of closing, for gross
proceeds of up to $212,500 CAD in the aggregate. The Issuer may pay finder's fees,
which may be paid to eligible finders 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
James Tong,
Interim CEO
Muzhu Mining Ltd.
Phone: 1-226-455-5644
Email: [email protected]
Website: 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 an
option agreement to acquire up to 80% of the Silver, Zinc, Lead XWG Property in the
Luoning County, Henan Province located in 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.
Forward-Looking Statements:
This news release contains certain forward-looking statements; Wherever possible,
words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or other variations of these
words, or similar words or phrases, have been used to identify these forward-looking
statements. These statements reflect management's current beliefs and are based on
information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions.
Many factors could cause actual results, performance or achievements to differ
materially from the results discussed or implied in the forward-looking statements.
These factors should be considered carefully and readers should not place undue
reliance on the forward-looking statements. Although the forward-looking statements
contained in this news release are based upon what management believes to be
reasonable assumptions, the Company cannot assure readers that actual results will be
consistent with these forward-looking statements. The Company assumes no obligation
to update or revise them to reflect new events or circumstances, except as required by
law.
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.