Majescor arranges $400,000 financing
MONTREAL, Dec. 27 /CNW/ - Majescor Resources Inc.(MAJ) has agreed to sell
on a private placement, 500,000 of units for a total proceeds of $400,000. The
units are non-flow through, but are an eligible investment for a Quebec Stock
Saving Plan. The units are priced at $0.80 per unit and each unit consists of
one common share and one half share purchase warrant where each whole purchase
warrant entitles the holder to purchase one common share at $1.00 for a period
of 18 months from the closing date. The proceeds will be used for exploration
and development of the company's diamond projects in Northern Quebec.
Dundee Securities Corporation will act as agent for the private
placement. The agent will be paid a cash fee equal to 6.0 per cent of the
total gross proceeds. The closing is expected on or about December 28, 2001
The private placement is subject to all requisite regulatory approvals.
Majescor is an exploration company with the largest diamond portfolio in
Quebec.
The Canadian Venture Exchange (CDNX) does not accept responsibility for
the adequacy or accuracy of this release.
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For further information: Andre Audet, Vice President, Investor
Relations, Office: (613) 241-2332, Cell: (613) 769-1248, Email:
andre@majescor.com; Website: www.majescor.com |
