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BEIJING, CHINA--(Marketwire - Feb. 22, 2012) - Mountain China Resorts (Holding) Limited (TSX VENTURE:MCG) ("MCR" or the "Company"), is pleased to announce that in furtherance to its news releases dated December 15, 2011 and September 16, 2011, it has closed the non-brokered private placement of 105,700,000 common shares (the "Shares"), priced at $0.18 per Share for gross proceeds of $19,026,000 (the "Offering"). The proceeds from the Offering will be used for general working capital and for the repayment of certain debentures. |
