China Shen Zhou signs agreement to issue up to $10M of preferred stock
China Shen Zhou Mining & Resources announced that the company has signed a definitive agreement with certain institutional investors for up to $10M in gross proceeds. The company, amongst other things, plans to use the net proceeds for developing the three mining companies in which it acquired a 60% ownership earlier this year in Guizhou. FT Global Capital acted as the sole placement agent for the transaction.
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