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MZI Resources Ltd Completes $5 Million Equity Funding

Sunday, 3 Nov 2013 05:01pm EST 

MZI Resources Ltd announced that it has raised $5 million in equity, ensuring the company has sufficient funds to continue early-stage work on its keysbrook minerals sands project in WA while it finalises the debt funding. The $5 million raising comprises: a $4.04 million share placement at 1.3 cents which includes the shares which were to issued under the previously announced $500,000 placement with Argonaut Capital and the share purchase plan shortfall funding of $960,000 at 1.296 cents a share which was approved by MZI shareholders on October 22, 2013. The increased funding will provide the Company the opportunity to complete the debt funding process, commence early stage engineering and design work for the keysbrook project with GR Engineering and continue other important project-related activities. 

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