Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

November 05, 2013 15:36 ET

Majescor Resources Inc. Announces Share Consolidation Effective November 7, 2013

MONTRÉAL, QUÉBEC--(Marketwired - Nov. 5, 2013) - Majescor Resources Inc. ("Majescor" or "the Company") (TSX VENTURE:MJX) is pleased to announce that the TSX Venture Exchange ("TSX-V" or the "Exchange") has approved the consolidation of the Company's common shares ("Common Shares") on a basis of one (1) post-consolidation Common Share for each ten (10) pre-consolidation Common Shares (the "Consolidation") and has no objection to the Common Shares trading on a post-consolidated basis effective at the opening of market on November 7, 2013 under the new CUSIP number CA760960302. The number of Common Shares of the Corporation issued and outstanding will be reduced from 92,044,410 shares to 9,204,441 shares.

At the Annual and Special Meeting of shareholders held on October 17, 2013, the shareholders voted to approve the consolidation of the Company's common share capital on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares held (subject to Exchange acceptance).

Letters of transmittal with respect to the Consolidation have been mailed out to all registered shareholders by the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"). The letter of transmittal describes the process by which registered shareholders may obtain new certificates representing consolidated Common Shares and all registered shareholders of the Company will be required to send their certificates representing pre-Consolidation Common Shares with a properly executed letter of transmittal to Computershare, in accordance with the instructions provided in the letter of transmittal. No fractional Common Shares will be issued. Where the Consolidation results in a fractional Common Share, the number of post-Consolidation Common Shares will be rounded down to the nearest whole Common Share. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their name will not need to complete a letter of transmittal.

About Majescor Resources Inc.

Majescor Resources Inc. is a junior explorer focusing on emerging mineral districts. Majescor's portfolio of exploration projects includes: the Besakoa gold, base metal and graphite property in southern Madagascar (50%-50% joint venture with Sunridge Gold Corp.) and the Mistassini uranium exploration project in Québec (under joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.). In the Republic of Haiti, Majescor, through its 100%-held subsidiary SIMACT Alliance Copper-Gold Inc., holds a majority interest SOMINE SA, a registered Haitian Company. SOMINE SA in turn holds 100% mineral rights to the Douvray porphyry copper-gold project and the Faille B vein gold project located in the Northeast mineral district of Haiti, near the port-city of Cap-Haitian. The Douvray and Faille B projects are each covered by a five-year renewable Mining Exploitation Permit awarded to SOMINE SA on December 21, 2012 and are collectively covered by a Mining Convention executed with the State of Haiti on May 5, 2005 and valid until March 9, 2020. On January 15, 2013, Majescor published the first NI 43-101 compliant mineral resource estimate for the Douvray porphyry copper-gold project (Inferred Mineral Resource of 189.5 Mt grading 0.30% Cu, 0.05 g/t Au, 1.12 g/t Ag and 23.05 g/t Mo at a base cut-off of 0.1% Cu *).

* Mineral resources are not mineral reserves and do not have demonstrated economic viability.

On Behalf of Majescor Resources Inc.,

Marc-André Bernier, M.Sc. P.Geo. (Québec and Ontario), President & Interim CEO

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

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.

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