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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (90)	7/31/2002 4:07:21 PM
From: Famularo	Read Replies (1) \| Respond to of 16205

Majescor Resources closes its $1.02-million financing Majescor Resources Inc MAJ Shares issued 18,429,962 Jul 30 close $0.52 Wed 31 Jul 2002 Rating Review Mr. Andre Audet reports MAJESCOR CLOSES A $1,020,000 PRIVATE PLACEMENT Majescor Resources has closed a private placement of 1.7 million flow-through common shares at a price of 60 cents per share for total proceeds of $1.02-million, with two purchasers in Ontario and one purchaser in British Columbia. Dundee Securities Corporation was the agent for the offering. The agent was paid a cash fee equal to 7 per cent of the total proceeds from the sale of the flow-through common shares. The agent also received broker warrants entitling it to purchase common shares which are equal to 10 per cent of the number of flow-through common shares sold. The broker warrants will expire on July 29, 2004, and the exercise price for such warrants will be 60 cents. The net proceeds of this offering shall be used for the further advancement of Majescor's diamond exploration projects.