Muzhu Completes Private Placement

Core Points - Muzhu Mining Ltd. has completed a private placement raising gross proceeds of $154,239 from the sale of 1,542,390 units at a price of $0.10 per unit, increasing from the initially planned 1,259,000 units due to additional subscriptions [1] - Each unit consists of one common share and one non-transferable share purchase warrant, with warrants allowing the purchase of shares at $0.14 for the first year and $0.20 for the second year, subject to an acceleration provision [1] - The company plans to use the proceeds for working capital and mineral exploration projects in Canada and China [3] Related Party Transaction - An insider of the company participated in the offering, which is classified as a "related party transaction" but is exempt from formal valuation and minority shareholder approval requirements as the value does not exceed 25% of the company's market capitalization [2] Financial Details - The company paid $2,400 in cash and granted 24,000 share purchase warrants to a finder related to the private placement [3] - All securities distributed under the private placement are subject to a four-month hold period, expiring on December 26, 2025 [3] Company Overview - Muzhu Mining Ltd. is a Canadian publicly traded exploration company with a portfolio of projects at various stages of development, including a 100% interest in the Sleeping Giant South Project in Quebec and option agreements for properties in China [4]