Majescor Announces the Closing of the 1st Tranche of a Non-Brokered Private Placement for $3,390,000
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 08/03/11 -- Majescor Resources Inc. ("Majescor" or the "Company")(TSX VENTURE: MJX) is pleased to announce that it has completed the first tranche of a non-brokered private placement of 16,950,000 units (the "Units") at a price of $0.20 for gross proceeds of $3,390,000. Each Unit consists of one common share of the Company (a "Common Share") and one-half common share purchase warrant. Each whole warrant entitles its holder to acquire one additional Common Share of the Company at a price of $0.35 per share until July 28, 2013. The proceeds will be used to advance the Company's exploration program on the SOMINE Copper-Gold property in Haiti and fund its general working capital. Officers and Directors of the Company have participated in the private placement for a total amount of $175,000.
The Company has paid cash commission totalling $234,320 and issued 1,171,600 non-transferable agent warrants, each warrant entitling the holder to acquire one Common Share of the Company at a price of $0.25 per share until January 28, 2013. All securities issued in the private placement are subject to a four month plus one day hold period expiring on November 29, 2011.
In the July 14th news release, Majescor had announced a $3M financing. TSX Venture Exchange has, since, approved the increase to $4M.
"We wish to take this opportunity to thank everyone who has participated in this private placement. We are very pleased to close the first tranche of a $4M offering which will allow Majescor to advance its exploration program on the SOMINE copper-gold project in Haiti," stated Dan Hachey, President and Chief Executive Officer.
In Other News:
In accordance with the Company's compensation policy and subject to the approval of TSX Venture Exchange, the Board of Directors granted 500,000 stock options to an officer for a five-year period. Each stock option entitles the holder to subscribe for one common share of Majescor at a price of $0.215 per share.
About Majescor Resources Inc.
Majescor is a junior explorer focusing on emerging mineral districts. Majescor's project portfolio includes the SOMINE copper-gold property in Haiti (majority-held by SIMACT Alliance Copper-Gold Inc., a wholly-owned subsidiary of Majescor), the Mistassini uranium exploration project in Quebec (under joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.) and the Besakoa gold and base metal property in Madagascar (100%-owned; under option to Sunridge Gold Corp.).
To find out more about Majescor Resources Inc. (TSX VENTURE: MJX), SIMACT Alliance Copper Gold Inc., the SOMINE copper-gold Property as well as the Company's Mistassini uranium and Besakoa copper/gold properties, please visit our website at .
On behalf of the Board of Directors of Majescor Resources Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Daniel Hachey
Majescor Resources Inc.
905.206.1604
613.241.7817 (FAX)
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Datum: 03.08.2011 - 12:30 Uhr
Sprache: Deutsch
News-ID 41319
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MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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