Vancouver, British Columbia (FSCwire) - Majestic Gold Corp. (“Majestic” or the “Company”) (TSX.V: MJS, FSE: A0BK1D) is pleased to announce that the Company has closed its non-brokered private placement financing (the “Offering”) announced on January 25, 2018, for total proceeds of $9,708,738 by the issuance of 64,729,919 common shares at $0.15 per common share.

 

In connection with the Offering, the Company paid aggregate finder’s fee to two arms-length individuals who introduced it to private placement investors by issuing 3,236,246 common shares.

 

All securities issued in connection with the Offering are subject to a statutory hold period expiring on June 9, 2018.

 

The Company intends to use the proceeds from the Offering for general working capital, to advance the Company’s projects, and to fund possible acquisitions.  The Company also plans to explore direct financing of its Chinese subsidiary through an Asian Market facility, with a possible separate listing of the subsidiary’s shares on an Asian exchange.

 

About Majestic:

 

Currently focused solely in China, Majestic is a British Columbia based company engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. Majestic holds a 70.5% interest in the Songjiagou Gold Mine through a Chinese subsidiary. Additional information on the Company and its projects is available at www.sedar.com and on the Company’s website at www.majesticgold.com.

 

For further information, please contact:

 

Stephen Kenwood, P. Geo., President, CEO & Director
Telephone: (604) 560-9060

Email: info@majesticgold.com

Website www.majesticgold.com          

 

Cautionary Notes

 

Certain statements contained herein may constitute forward‐looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward‐looking statements are statements which relate to future events. Such statements include estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.

 

In some cases, you can identify forward‐looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward‐looking statements.

 

While these forward‐looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward‐looking statements to conform these statements to actual results.

To view the associated document to this release, please click on the following link:
public://news_release_pdf/MajesticGold02092018.pdf

To view the original release, please click here

Source: Majestic Gold Corp. (TSX Venture:MJS, OTC Pink:MJGCF, FWB:AOBK1D)

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