China Shen Zhou Mining & Resources Announces Offering of Approximately $20M of Common Stock and Warrants

China Shen Zhou Mining & Resources, Inc. SHZ today announced that it has entered into a securities purchase agreement with several institutional investors for a registered direct placement of approximately $20 million of common stock at a price of $7.05 per share. The Company will issue a total of 2,836,883 shares to these institutional investors. In addition, the Company will issue warrants to the institutional investors to purchase up to 851,066 shares of common stock, which, if fully exercised for cash, would provide an additional $7.2 million in gross proceeds to the Company. The three-year warrants have an exercise price of $8.46 per share and are exercisable immediately following the closing date.