Majestic Gold Corp. successfully completes the acquisition of 52% ownership in the Target Company and the Muping Gold Project. The company announces the fulfillment of all conditions precedent to the share purchase agreement and the completion of equity transfers. The capital increase outlined in the agreement is progressing, with further updates to be provided.
Majestic Gold Corp., a British Columbia-based company, is pleased to announce the completion of its acquisition of 52% of the Target Company and the Muping Gold Project. This acquisition was initially announced in a November 25, 2024, news release. The company reports that all conditions precedent to the Share Purchase Agreement have been fulfilled, and the equity transfers for Zhaojin and Yihui have been successfully completed according to the terms of the agreement.
The Capital Increase outlined in the Agreement is currently underway, and the company will provide further updates on its completion as appropriate. Majestic Gold Corp. is a low-cost junior gold producer engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. \The company also emphasizes that neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release. Certain statements within this release may be considered forward-looking statements, made in accordance with the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements encompass projections about future events and include estimations, forecasts, and management's expectations regarding various aspects of the business, including financial prospects, future trends, plans, strategies, objectives, and expected outcomes. These statements often utilize terminology such as 'may,' 'should,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'potential,' or 'continue,' or their negations. \It's important to note that these forward-looking statements are predictions subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied in these statements. While these statements and their underlying assumptions are made in good faith and reflect current judgment regarding the direction of the business, actual outcomes will often vary, sometimes significantly. Majestic Gold Corp. does not intend to update any forward-looking statements to conform them to actual results, except as required by applicable law.
MAJESITC GOLD CORP. ACQUISITION GOLD MINING CHINA TSX VENTURE EXCHANGE FORWARD-LOOKING STATEMENTS
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