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Majescor Resources Receives the Approval From the TSX-V for the Acquisition of the Mining Division Of Diagnos
(via TheNewswire) Ottawa, Ontario / TheNewswire / May17, 2017 - Majescor Resources Inc. ...
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[{"type":"text","content":"Majescor Resources Receives the Approval From the TSX-V for the Acquisition of the Mining Division Of Diagnos(via TheNewswire)\n\n \nOttawa, Ontario / TheNewswire / May17, 2017 - Majescor Resources Inc. (\"Majescor\" or the \"Company\") (TSX-V: MJX) is pleased to announce that it has received TSX-V Exchange approval for the acquisition of the mining division of Diagnos Inc. (\"DIAGNOS\") (reference: News release of March 15, 2017). The Company has also received written consents of the majority of its disinterested shareholders for the creation of a new Control Person, DIAGNOS.\n\n \n \n\"We are pleased to move forward with this strategic acquisition. This is a game changer for Majescor. It puts us in the forefront in becoming the leader in using artificial intelligence and machine learning for mineral exploration. DIAGNOS has over a 10-year track record of using and perfecting its CARDS (Computer Aided Resources Detection System) and we are excited about the added value that Majescor will now be able to provide to our own mineral projects as well as the potential for revenue-generating third party applications\", stated Andre Audet, President and CEO of Majescor.\n\n \n \nUnder the terms of the agreement, Majescor will issue 8,000,000 common shares of its share capital to DIAGNOS, at a deemed price of $0.10 per share, in payment for the acquisition of the assets, consisting of DIAGNOS' mining claims, royalty agreements, and the CARDS system. Additionally, Majescor will remit to DIAGNOS (i) 50% of any payment that Majescor receives from the royalty agreements forming part of the acquired assets, and (ii) 5% of revenues generated by the commercialization of the CARDS system.\n\n \n \nThe common shares issued to DIAGNOS will bear a restrictive legend for four months and one day. As a result of the issuance of the 8,000,000 common shares to DIAGNOS, Majescor has 48,427,775 common shares issued and outstanding.\n\n \n \nAbout Majescor Resources Inc.\nMajescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec. \n\nFor further information, please contact:\n\n\n \n\nAndre Audet\n\n\n \nPresident & CEO of Majescor Resources Inc.\n\n\n \nTelephone: 613-241-5333\n\n\n \nFax: 613-422-0773\n\n\n \nEmail: [email protected]\n\n\n \nWebsite: www.majescor.com\n\n\n \n\nAdditi...