2013
12/29

Category:
Debt Settlement

TAG:

COMMENTS:
Comments Closed

Majescor Announces Stocks For Debt Consolidation With Company And…

MONTREAL, QUEBEC–(Marketwired – November. 28, 2013) –

Not for distribution to be able to US newswire services or for dissemination in the United States. Any failure in order to comply with this restriction may constitute the violation people securities legislation

Majescor Resources Incorporation. (Majescor and also the Company) (TSX VENTURE: MJX) is pleased to announce it has decided to settle a great aggregate regarding $25, 1000 of indebtedness owed for an arms length service provider from the issuance of 416, 666 common shares of the Business at a regarded issuance price of $0. summer per frequent share (the Services Settlement). The aggregate debt represents outstanding amounts regarding services supplied to the Company by the provider. Majescor chose to settle this particular outstanding indebtedness with stocks as part of their plans to move the Company ahead and in order to maintain its possible funds regarding operations.

Your debt shares, when issued, is going to be issued in reliance upon certain prospectus and sign up exemptions accessible under relevant securities laws and will be controlled by a hold period of four months and another day in accordance with applicable investments legislation in addition to TSX Opportunity Exchange (TSX-V) requirements.

The particular shares released in the Service Settlement is going to be in accordance with relevant securities legislation and will be controlled by the prior approval of the TSX-V.

On completion of the particular transaction, Majescor will have being unfaithful, 621, 107 common stocks issued plus outstanding

Grant of stock options

Majescor makes announcement that on November twenty eight, 2013, in accordance with the Companys compensation coverage and inventory option plan and subject to the approval associated with TSX-V, the particular Board associated with Directors provided an aggregate of 3 hundred, 000 motivation stock options (Options) to directors, officers, employees and an advisor of the Company. Each alternative, vesting right away upon grant, entitles typically the holder thereof to purchase a single common reveal in the funds of the Corporation at a price of $0. 075 per reveal until The fall of 28, 2015. The Options in addition to any frequent shares released upon exercise thereof will probably be subject to a four 30 days resale constraint from the time of grant.

Concerning Majescor Resources Inc.

Majescor Resources Inc. is really a junior browser focusing on growing mineral areas. Majescors portfolio of pursuit projects contains: the Besakoa gold, base metal and graphite house in the southern part of Madagascar (50%-50% joint venture along with Sunridge Gold Corp. ) and the Mistassini uranium exploration project within Qubec (under joint-Venture: 40 % Majescor and 60% Strateco Resources Inc. ). In the Republic of Haiti, Majescor, through its 100%-held subsidiary SIMACT Alliance Copper-Gold Inc., keeps a majority attention SOMINE VOTRE, a signed up Haitian Business. SOMINE VOTRE in turn holds 100% vitamin rights to the Douvray porphyry copper-gold job and the Faille B line of thinking gold task located in typically the Northeast mineral district of Haiti, close to the port-city of Cap-Haitian. The particular Douvray and Faille B projects are usually each included in a five-year renewable Exploration Exploitation Permit awarded to SOMINE VOTRE on January 21, this year and are collectively covered by the Mining Conference executed with the State of Haiti on May 5, june 2006 and legitimate until Mar 9, 2020. On The month of january 15, 2013, Majescor posted the first DU 43-101 compliant mineral source estimate for the Douvray porphyry copper-gold task (Inferred Nutrient Resource associated with 189. 5 Mt grading 0. 30% Cu, 0. 05 g/t Au, 1 ) 12 g/t Ag and 23. 05 g/t Mo at a base cut-off associated with 0. 1% Cu *).

* Mineral sources are not vitamin reserves , nor have demonstrated economic viability.

With respect to Majescor Sources Inc.,

Marc-Andr Bernier, President amplifying device; Interim CEO

To learn more about Majescor Resources Inc. (TSX VENTURE: MJX), SIMACT Alliance Copper Gold Inc., the SOMINE copper-gold task as well as the Companys Mistassini uranium and Besakoa copper/gold attributes, please visit internet site at www.majescor.com, or e mail us directly from:

Nor TSX Opportunity Exchange or its Rules Services Provider (as that term is usually defined inside the policies of the TSX Endeavor Exchange) allows responsibility for that adequacy or even accuracy with this release.

Comments are closed.