MJX

Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), is
providing this second bi-weekly default status report (the "Default Status
Report") in accordance with Policy Statement 12-203 respecting Cease Trade
Orders for Continuous Disclosure Defaults ("Policy Statement 12 203"). On June
28 and July 4, 2013, the Company announced (the "Default Announcement") that,
for the reasons disclosed in the Default Announcement, the filing of the
Company's annual financial statements, accompanying management's discussion and
analysis and related CEO and CFO certifications for the financial year ended
February 28, 2013 (collectively, the "2013 Annual Financial Statements") would
not be completed by the prescribed deadline set by the Canadian securities
legislation, being June 28, 2013.


As a result of this delay in filing the 2013 Annual Financial statements, the
Company's principal regulator, the Autorite des Marches Financiers (the "AMF"),
granted a Management Cease Trade Order (the "MCTO") to the Company. The MCTO
restricts all trading in securities of the Company, whether direct or indirect,
by the Chief Executive Officer, the Chief Financial Officer and the directors of
the Company until such time as the 2013 Annual Financial Statements have been
filed by the Company. The MCTO does not affect the ability of shareholders who
are not subject to the MCTO to trade their securities.


The audit of the annual financial statements is still on-going and the Company
now expects to file its 2013 Annual Financial Statements on or before August 12,
2013. The Company's board of directors and its management have been working
expeditiously with its auditors, during the last four weeks, to address all of
the issues and matters pending, most of which were cleared as of today, except
for one matter which the Company needs some time to address, being the assurance
it can support its core administrative functions over the next months ("Going
Concern Statement") while it proceeds with the restructuring of its business
development strategy. Majescor has also been trying to raise funds for its
general working capital and to ensure the continuity of its going concern. Given
the current difficult markets for raising capital, potential equity transactions
are taking more time to materialize. However, in an effort to expeditiously
remediate this situation, the Company announced its intent to complete a
non-brokered private placement (see Majescor press release dated July 30, 2013)
to raise up to $150,000, subject to regulatory approvals including approval of
the TSX Venture Exchange (the "Exchange") under the Temporary Relief Measures
set out in the Exchange's bulletin of April 12, 2013. Proceeds from the offering
will be used toward payment of existing accounts payable and for working capital
purposes, while waiting for other transactions to conclude in the next months
and provide more funds to the Company.


Pursuant to the provisions of the alternative information guidelines specified
by Policy Statement 12-203, the Company reports that since the Default
Announcement and its first default status report of July 18, 2013, except as
stated in this Default Status Report, there have not been any other material
changes to the information contained therein; nor any failure by the Company to
fulfil its intentions as stated therein with respect to satisfying the
provisions of the alternative information guidelines. However, considering the
on-going audit of the 2013 Annual Financial Statements and the new expected
filing deadline of August 12, 2013, the Company is now also in default for not
completing the filing of its interim financial statements, accompanying
management's discussion and analysis and related CEO and CFO certifications for
the three-month period ended May 31, 2013 (collectively, the "Interim Financial
Statements"), on the prescribed deadline set by the Canadian securities
legislation, being July 30, 2013. The Company intends to file its Interim
Financial Statements concurrently to the filing of its 2013 Annual Financial
Statements, which is expected to be on or before August 12, 2013.


Further, there are no additional material information respecting the Company and
its affairs that have not been generally disclosed and there are no insolvency
proceedings against the Company as of the date of this Default Status Report.

Until the 2013 Annual Financial Statements and the Interim Financial Statements
have been filed, the Company intends to continue to satisfy the provisions of
the alternative information guidelines under Policy Statement 12-203 by issuing
bi-weekly default status reports in the form of further press releases, which
will also be filed on SEDAR. 


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 Madagascar (50%-50% joint venture with
Sunridge Gold Corp.; On April 30 2013, Majescor entered into a non-binding
Letter Agreement with Olympic Resources Ltd. ("Olympic") and Sunridge Gold Corp.
("Sunridge") whereby the Company and Sunridge agree to sell their respective 50%
interest in Daraina Exploration S.A.R.L. to Olympic) and the Mistassini uranium
exploration project in Quebec (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 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).


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. 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Daniel Hachey
President & CEO
Majescor Resources Inc.
905.206.1604
613.241.7817 (FAX)
dan@majescor.com
www.majescor.com

Majescor Resources Inc. (TSXV:MJX)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Majescor Resources Inc. (TSXV:MJX)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024