Nzuri Copper Limited (ASX:NZC) announced a strategic private placement of 26,475,716 shares at a price of AUD 0.2507 per share for gross proceeds of AUD 6,637,462 and convertible loan for gross proceeds of AUD 3,362,538 for aggregate gross proceeds of AUD 10,000,000 on December 13, 2017. The transaction will include participation from Huayou International Mining (Hong Kong) Limited to acquire 14.76% stake in the company. The common shares will be issued in the first tranche on or before 20 December 2017. The company will receive convertible loans in the second tranche on or before 10 January 2018. The transaction is subject to a success fee of 5% of the total funds raised to China Zenith Capital Limited or its nominee. The transaction has been approved by the shareholders of the company.