Majescor Resources, Inc. (TSXV:MJX) announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.12 per unit for gross proceeds of CAD 2,400,000 on October 16, 2012. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of the company at a price of CAD 0.18 for a period of 24 months following the closing of the transaction. Securities issued are subject to four month hold period. The company will pay up to 8% commission of the gross proceeds and may issue a maximum of 8% of non-transferable warrants entitling the holders to acquire the same number of common shares at a price of CAD 0.15 per common share for a period of 18 months following the closing of the offering. The warrants are subject to an accelerated expiry if, the published closing trade price of the common shares on the TSX Venture Exchange is equal or greater than CAD 0.36 for a period of 20 consecutive trading days, commencing on the day following the expiry of the four month resale restriction period in which event the company may give the holder a written notice and the warrants will automatically expire, if not exercised, 30 days after receipt of such notice. The closing is expected to be on or before November 1, 2012.

On January 18, 2013, Majescor Resources, Inc. closed the transaction. The company issued 2,500,000 units at CAD 0.09 per unit for gross proceeds of CAD 225,000. The hold-period on the securities will expire on May 19, 2013. The company expected to issue 25,000,000 units for gross proceeds of CAD 2,250,000. Each warrant will be exercisable at a price of CAD 0.15 for a period of 24 months. The warrants are subject to an accelerated expiry if, the published closing trade price of the common shares on the TSX Venture Exchange is equal or greater than CAD 0.30 for a period of 20 consecutive trading days, commencing on the day following the expiry of the four month resale restriction period in which event the company may give the holder a written notice and the warrants will automatically expire, if not exercised, 30 days after receipt of such notice. The warrants to be issued to pay reimburse the finders will be exercisable at a price of CAD 0.12 for a period of 18 months. The transaction is subject to regulatory approval. The transaction included participation from one placee.