Majestic Gold Corp. Announces Outcome in Injunction Proceeding Regarding Private Placement Financing
Vancouver - Majestic Gold Corp. (TSX.V: MJS, FSE: A0BK1D) (the "Company") is pleased to announce that the Supreme Court of British Columbia (the "Court") has issued a decision in respect of an application brought in a petition proceeding initiated by Mr. Fan Zhong Kong seeking, among other relief, an interlocutory injunction delaying the Company from completing the non-brokered private placement announced on May 21, 2025 (the "Private Placement") until after Mr. Kong's petition is decided on its merits or until after the Company's annual general meeting of shareholders scheduled to be held on July 31, 2026 (the "AGM"). The Court declined to order this relief. On an interlocutory basis, the Court has directed that the Private Placement may close after the record date for the AGM, which is June 29, 2026. The Company intends to close the Private Placement as expeditiously as possible.
About Majestic Gold Corp.
Majestic Gold Corp. is a low-cost junior gold producer engaged in commercial gold production in eastern Shandong Province, China, with mining operations at its Songjiagou Gold Mines and the Mujin Gold Project. Additional information on the Company and its projects is available at www.sedarplus.ca and on the Company's website at www.majesticgold.com.
For further information, please contact:
James Mackie, Chief Financial Officer & Corporate Secretary
Telephone: (604) 560-9060
Email: info@majesticgold.com
Website: www.majesticgold.com
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities legislation, including statements regarding the closing of the Private Placement and the anticipated timing of the AGM and the record date. Forward-looking statements are based on management's expectations and assumptions as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, risks relating to the Private Placement not being completed in a timely manner or at all, including due to delays, unfavourable market or other conditions or factors; the possibility that the AGM will be postponed or adjourned and other risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update such statements except as required by applicable law.
Neither the 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 news release.
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