Muzhu Mining Ltd. announced a non-brokered private placement of up to 5,416,667 units at a price of CAD 0.12 per unit for gross proceeds of CAD 650,000.04 on May 5, 2022. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will be exercisable to purchase one common share at an exercise price of CAD 0.20 per share for a period of one year from the date of issuance.

The company will pay finders fees which consists of a cash fee equal to 7.5% of the gross proceeds raised under the offering and compensation options equal in number to 7.5% of the units sold under the offering. Each finder's warrant shall entitle the holder to acquire one common share at a price of CAD 0.12 per common share for a period of one year from the date of issuance.