Business
Majestic Announces Change In Use Of The Net Proceeds From Global Offering
(TheNewswire) Vancouver, British Columbia – August 23, 2024 – TheNewswi...
About this update from Majestic Gold Corp.
[{"type":"text","content":"Majestic Announces Change In Use Of The Net Proceeds From Global Offering\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia –\nAugust 23, 2024 –\n \n\n TheNewswire –\n \n\n Majestic\nGold Corp.\n \n\n (TSX.V: MJS, FSE: A0BK1D)\n \n\n\n\n (“\n \n\n Majestic\n \n\n ”, together\nwith its subsidiaries, the “\n \n\n Company\n \n\n ”)\n \n\n announces\nwith r\n \n\n eference\n \n\n made\n \n\n to\n \n\n (i) the\n \n\n prospectus\n \n\n of\n \n\n Persistence Resources\n \n\n Group Ltd (the\n“\n \n\n Persistence\n \n\n ”)\n \n\n dated\n \n\n December\n \n\n 14,\n \n\n 2023\n \n\n in\n \n\n relation\n \n\n to\n \n\n the\n \n\n Global\n \n\n Offering\n \n\n (the\n \n\n “\n \n\n Prospectus\n \n\n ”);\n \n\n (ii) the\n \n\n news\nrelease\n \n\n dated March\n \n\n 25,\n \n\n 2024\n \n\n in\n \n\n relation\n \n\n to\n \n\n an\nLOI to acquire gold project through use\n \n\n of\n \n\n the net\n \n\n proceeds\n \n\n from\n \n\n Global\n \n\n Offering\n \n\n (the “\n \n\n Net\n \n\n Proceeds\n \n\n ”);\n \n\n and (iii)\nthe 2023\n \n\n annual report\n \n\n of\n \n\n the\n \n\n Company\n \n\n dated March\n \n\n 28,\n \n\n 2024\n \n\n (the\n \n\n “\n \n\n Annual\nReport\n \n\n ”).\n \n\n\n\n The Company\n \n\n hereby\n \n\n announces\n \n\n that after\n \n\n careful consideration\n \n\n and\n \n\n detailed evaluation\n \n\n of\n \n\n the\n \n\n Company\n \n\n ’s\noperations\n \n\n and business strategy,\n \n\n it\n \n\n has\n \n\n resolved\n \n\n to\n \n\n change\n \n\n the use\n \n\n of\n \n\n the\n \n\n unutilised\n \n\n portion\n \n\n of\n \n\n the Net\n \n\n Proceeds\n \n\n in\n \n\n the\n \n\n manner\n \n\n as\n \n\n set out\n \n\n below.\n \n\n\n\n\n\n CHANGE\nIN USE OF UNUTILISED NET PROCEEDS FROM GLOBAL OFFERING\n \n\n\n\n The\n \n\n original intended purposes\n \n\n and\n \n\n uses\n \n\n of\n \n\n the Net\n \n\n Proceeds,\n \n\n which\n \n\n amounted\n \n\n to\n \n\n approximately HK$218.3 million,\n \n\n were\n \n\n disclosed\n \n\n in\n \n\n the\n \n\n section headed “Future\n \n\n Plans and\n \n\n Use\n \n\n of\n \n\n Proceeds\n \n\n –\n \n\n Use\n \n\n of\n \n\n Proceeds”\n \n\n in\n \n\n the\n \n\n Prospectus,\n \n\n and\n \n\n further updated\n \n\n in\n \n\n the\n \n...