Majescor Resources to Change Name to Albert Mining Inc. and Announces a $550,000 Non-brokered Private Placement
20.06.2017 | The Newswire
June 20, 2017 - Majescor Resources Inc. ("Majescor" or the "Corporation") (TSX-V: MJX) announces that it has decided to change its corporate name to "Albert Mining Inc." The Corporation has adopted the name "Albert Mining Inc.", and will formalize its re-branding initiatives in the near future, to reflect the acquisition of the entire mining division of DIAGNOS, including the Computer Aided Resources Detection System ("CARDS"), Manageo (claims management), as well as all the exploration projects and Royalties.The name change is designed to eliminate confusion and better align the Corporation's name to its current identity as it focuses efforts on exploration, services using its 2D-3D CARDS system using Artificial Intelligence (AI) and datamining. The common shares of the Corporation will begin trading under the new name on the TSX Venture Exchange ("TSX-V"), upon acceptance by the TSX-V, which should be shortly following the Corporation's next annual and special meeting of shareholders scheduled for July 14, 2017. The Corporation will also apply for a new CUSIP number and ticker symbol. In the interim, the Corporation will continue to trade under the symbol "MJX" on the TSX-V until further notice. The Corporation's website has changed from www.majescor.com to www.albertmining.com.
Majescor announces a $550,000 non-brokered private placement (the "Offering") comprised of $250,000 in flow through common shares at an issue price of $0.12 per share and $300,000 in non-flow through common shares at an issue price of $0.10 per share with one common share purchase warrant (the "Warrant"). Each Warrant entitles the holder thereof to acquire one additional common share in the capital of the Corporation at a price of $0.16 per share for a period of twenty-four (24) months following the closing of the Offering. All securities issued in the Offering are subject to a four-month and one day "hold" period. The proceeds of the Offering will be used for exploration on the Corporation's James Bay Kimberlites project located close to the Stornoway Diamond Mine, and Currie Madeleine and Wachigabau gold projects located in the Lebel sur Quevillon region, Quebec.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec. Majescor also recently acquired assets from DIAGNOS Inc.'s mining division, including the Computer Aided Resources Detection System ("CARDS").
For further information, please contact:
Michel Fontaine, President and CEO of Majescor Resources Inc.
Telephone: 514-994-5843
Fax: 613-422-0773
Email: michel@majescor.com
Website: www.majescor.com
Additional information about the Corporation is available under Majescor's profile on SEDAR at www.sedar.com.
Neither the 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.
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