Majescor arranges $1-million private placement
– Momentum Public Relations –
Press Release: February 15, 2017
Majescor Resources Inc. has arranged a $1-million non-brokered private placement composed of 10 million units at 10 cents per unit with one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share in the capital of the corporation at a price of 16 cents per common share for a period of 24 months following the closing of the offering. The warrants carry a forced exercise provision that, should the corporation’s common shares trade at a price of 24 cents or more for 30 consecutive days, the warrantholder will then have 30 days following the 30th day of trading to exercise the warrants before they expire. All securities issued in the private placement are subject to a four-month hold period. The proceeds of the financing will be used for exploration and working capital.
The corporation may pay finders’ fees on a portion of the private placement not relating to insiders of the corporation.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec.
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