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China Shen Zhou Receives Initial $5 Million From Issuance Of Preferred Stock To Institutional Investors

Stocks in this article: SHZ

BEIJING, March 27, 2012 /PRNewswire-Asia-FirstCall/ --   China Shen Zhou Mining & Resources, Inc. ( " China Shen Zhou " , or the " Company " ) (NYSE Amex: SHZ), a company engaged in the exploration, development, mining and processing of fluorite, barite, zinc, copper, and other nonferrous metals in China, today announced that the company completed the initial closing of the previously announced offering of Series A Convertible Preferred Stock of the Company on Monday, March 26, 2012. The initial gross proceeds of the transaction were $5.0 million.

At the initial closing, the company issued 5,000 shares of Series A Convertible Preferred Stock and warrants to purchase 1,960,785 shares of common stock of the company. The company also issued a warrant to purchase 392,157 shares of common stock of the company to the placement agent. 

Ms. Xiaojing Yu, CEO of China Shen Zhou, commented, " China Shen Zhou's long-term growth strategy is largely driven by acquisition of high value assets in the non-ferrous material market segment, including fluorite mines and processing plants.  This transaction will enable us to finance several recent purchases, as well as implement necessary infrastructure upgrades in order drive sales expansion in existing segments and enter new value-added market segments, like barite processing."

The securities described above are being offered by the Company pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (the "SEC").  A prospectus supplement related to the preferred stock and warrant offering will be filed with the SEC. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.  Copies of the final prospectus supplement and accompanying base prospectus may be obtained at the SEC's website at www.sec.gov .

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the Company's securities. No offer, solicitation, or sale will be made in any jurisdiction in which such offer, solicitation, or sale is unlawful. The terms and conditions of the transactions described in this press release are qualified in their entirety by reference to the transaction documents, which have been filed with the Securities and Exchange Commission on Form 8-K.

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