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Muzhu Mining Closes First Tranche of Private Placement for $243,900
Vancouver, BC - TheNewswire - March 28, 2023 - Muzhu Mining Ltd. (CSE:MUZU) (“Muzhu” or the “Company”) is pleased to announce that the Company has closed the fi
About this update from North Atlantic Titanium Corp
[{"type":"text","content":"Vancouver, BC - TheNewswire - March 28, 2023 - Muzhu Mining Ltd. (CSE:MUZU) (“Muzhu” or the “Company”) is pleased to announce that the Company has closed the first tranche of its private placement announced on March 21, 2023. The closing of the first tranche is for 3,048,750 units at a price of $0.08 per unit for gross proceeds of $243,900. Each unit will comprise of 1 common share and 1 common share purchase warrant. Each warrant entitles the holder to acquire 1 additional common share of the Company at an exercise price of $0.12 for a period of 24 months from the date of issuance. Insider participation: Anthony Tam, VP – China Operations, Director, Muzhu Mining Ltd. – 125,000 units Dwayne Yaretz, Director, Muzhu Mining Ltd. – 500,000 units. Muzhu Mining’s interim CEO, James Tong commented “The funds will go towards work to be performed on the Niujuangou Mine area in the Company’s strategic alliance with the Luoning County Muzhu Mountain Lead and Silver Mine Company Ltd. (see News Release January 24, 2023) and towards working capital. The Niujuangou Mine area is a property contiguous to the north of Muzhu Mining's option agreement with the XWG silver property.” ON BEHALF OF THE BOARD OF DIRECTORS James Sung Fu Tong Interim CEO Muzhu Mining Ltd. Phone: 1-226-455-5644 Email: [email protected] 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 a 100% interest in the Sleeping Giant South Project, located in the Abitibi Greenstone Belt, approximately 75km South of Matagami, Quebec. Muzhu has executed an option agreement to acquire up to 80% of the Silver, Zinc, Lead XWG Property in the Henan Province of China as well as formed a strategic alliance with Luoning County Muzhu Mountain Lead and Silver Mine Company Ltd., within the Luoning county, Henan province of China, which owns the Niujuangou Mine area, a property contiguous to the north of Muzhu Mining's option agreement with the XWG silver property. Cautionary Notes This news release is not to be distributed in the United States nor does it constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unl...