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Published in Stocks and Investing on Thursday, July 30th 2009 at 13:01 GMT, Last Modified on 2009-07-30 13:02:06 by Market Wire
MONTREAL, QUEBEC--(Marketwire - July 30, 2009) - Majescor Resources Inc. ("Majescor" or "the Company") (TSX VENTURE:MJX) announces that, subject to TSX Venture Exchange approval, the Company will issue 36,018 common shares at deemed price of $0.248 per share to Societe d'investissement dans la diversification de l'exploration ("SIDEX Limited Partnership") representing the interest due as of July 25th, 2009, pursuant to the private placement of unsecured convertible debenture of $150,000 to SIDEX Limited Partnership on January 25, 2007. The debenture will mature on January 25, 2010 and bears interest at the rate of 12% per annum, payable semi-annually either in cash or in shares.
Majescor is a junior explorer focusing on emerging mineral districts. Majescor's project portfolio includes two uranium exploration projects in Quebec and one in the Baker Lake basin in Nunavut. The Quebec properties include Mistassini (100%-owned; under option to Strateco Resources Inc.) and Lac Laparre (100%-owned; under option to Santoy Resources Inc.). In Nunavut, the Company holds 100% mineral rights to the Baker Lake uranium property. In addition to uranium, Majescor owns 100% mineral rights to four gold and base metal properties in Madagascar (under option to Sunridge Gold Corp). Recently, Majescor signed an agreement with SIMACT Alliance Copper Gold Inc. ("SACG") and its principal shareholders whereby the Company has acquired a 10% interest in SACG, as well an option to acquire the remaining 90% interest in the SOMINE copper-gold property in north-east Haiti.
On behalf of the Board of Directors of Majescor Resources Inc.,
Marc-Andre Bernier
President, CEO and Director
To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), please visit our new website at [ www.majescor.com ]
Forward-Looking Statements
This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Majescor Resources inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
