Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

February 09, 2012 08:30 ET

Majescor Announces Private Placement

MONTREAL, QUEBEC--(Marketwire - Feb. 9, 2012) - Majescor Resources Inc. (TSX VENTURE:MJX) ("Majescor" or the "Company") is pleased to announce a private placement (the "Offering") led by M Partners Inc. of up to twelve million units (the "Units") at a price of $0.25 per Unit for gross proceeds of a minimum of $2,000,000. Each Unit will consist of one common share (a "Share") in the capital of Majescor and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional common share (a "Warrant Share") in the capital of Majescor at a price of $0.40 per Warrant Share. The warrants will expire twenty-four months from the date of issue. The Offering is expected to close on, or about Feb 29, 2012. The securities issued under the Offering will be subject to a four month hold period under applicable Canadian securities laws. The Offering is subject to TSX Venture Exchange approval.

Proceeds from the Offering will be used to advance Majescor 's SOMINE exploration project in Haiti and for general working capital.

About the SOMINE Project

The SOMINE project consists of a Research Permit covering 50 km2, the mineral rights and obligations of which have been assigned under a Mining Convention executed with the State of Haiti on May 5, 2005 and valid until March 9, 2020. SACG has also carried-out systematic soil sampling and prospecting work over four Prospecting Permits encompassing four 100 km2 areas lying to the East, South and Southeast of the permit subject to the Mining Convention. SOMINE SA has requested the conversion of 3 of 4 prospecting licenses to exploration licenses (50 km2 each) and has filed all technical and source documents in support of its application with the Haitian Bureau of Mines (BME).

About SIMACT Alliance Copper Gold Inc. and SOMINE SA

SIMACT Alliance Copper Gold Inc. ("SACG") is a 100%-held subsidiary of Majescor. SACG is the majority shareholder of SOMINE SA, a registered Haitian corporation holding 100% of the mineral rights to the SOMINE project. SOMINE SA has designated SACG as the Technical Operator of the SOMINE project exploration program.

About Majescor Resources Inc.

Majescor Resources Inc. is a junior explorer focusing on emerging mineral districts. In addition to the SOMINE project, Majescor's project portfolio includes the Mistassini uranium exploration projects in Quebec (under Joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.) the Besakoa gold and base metal property in Madagascar (50%-50% joint venture with Sunridge Gold Corp.).

To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT Alliance Copper Gold Inc., the SOMINE copper- gold Property as well as the Company's Mistassini uranium and Besakoa copper/gold properties, please visit our 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.

Contact Information