China Shen Zhou Receives Initial $5< from Issuance of Preferred Stock to Institutional Investors

China Shen Zhou Mining & Resources, Inc. SHZ 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.