Majescor closes private placement for $655,000
Momentum Public Relations
Press Release: April 10, 2017
Majescor Resources Inc. has closed a $655,000 non-brokered private placement at 10 cents 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 expiring on April 7, 2019. The warrants are subject to 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 and to all necessary regulatory approvals, including the approval of the exchange.
In connection with the private placement, the company is paying a cash finder’s fee of $15,200 and will issue 76,000 common shares and 76,000 non-transferable finder’s warrants. Each finder’s warrant entitles the holder to purchase one additional common share at a price of 16 cents per share for a period of 24 months expiring April 7, 2019.
The proceeds of the financing will be used for general corporate purposes.
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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