Majestic Gold Announces Private Placement
October 07 2008 - 6:23PM
Marketwired
Majestic Gold Corp. (TSX VENTURE: MJS) ("Majestic" or the
"Company") is pleased to announce that it has arranged a
non-brokered private placement of up to 98,000,000 units at $0.05
per unit, for aggregate gross proceeds of $4,900,000. Each unit
will be comprised of one common share and one common share purchase
warrant. Each warrant will entitle the holder to purchase one
additional common share in the capital of the Company for two years
from the date of issue at the price of $0.10.
Finders' fees may be payable in connection with the private
placement in accordance with the policies of the TSX Venture
Exchange ("TSX-V").
The proceeds from this financing will be used to fund the
Company's mineral projects in China and for general working
capital. The Company will need additional financing to repay the
previously announced loan from RAB Special Situations (Master) Fund
Limited. The proposed private placement is subject to acceptance by
the TSX-V.
On Behalf of the Board of Directors
Rod Husband, P.Geo., Director, President and CEO
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Majestic Gold Corp. Investor Relations (604) 681-4653
or 1-866-282-8398 (604) 683-6557 (FAX) Email: info@majesticgold.net
Website: www.majesticgold.net
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