en.Wedoany.com Reported - Canadian gold producer Majestic Gold Corp. (TSX-V: MJS) announced on June 30, 2026, that it has completed its previously announced non-brokered private placement, raising total proceeds of C$49,234,099.98 (approximately US$502,100). The company plans to use the proceeds for strategic equity investments, acquisitions, and joint venture opportunities outside of China. The placement issued a total of 378,723,846 common shares at a price of C$0.13 per share.
Headquartered in Vancouver, British Columbia, Canada, Majestic Gold Corp. is a low-cost junior gold producer engaged in commercial gold production in eastern Shandong Province, China. Its flagship asset is the Songjiagou Gold Mine, located in Muping District, Yantai City, covering an area of over 75 square kilometers, including both open-pit and underground mining operations. The company also holds the Mujin Gold Project. Shandong Province is the most important gold-producing region in China, accounting for approximately 25% of the country's total gold output.
Majestic Gold first announced the private placement on May 21, 2026, and received conditional approval from the TSX Venture Exchange on June 17, 2026. The common shares issued in this offering are subject to a statutory hold period of four months and one day, and no finder's fees or commissions were paid. The private placement remains subject to final acceptance by the TSX Venture Exchange.
In addition to strategic investments and acquisitions, the proceeds will also be used to advance technical studies, due diligence, project evaluations, property surveys, development opportunities, project financing commitments, corporate development activities, and working capital. The financing comes on the eve of the company's annual general meeting scheduled for July 31, 2026. Majestic Gold stated that this financing will support its strategy to seek investment and development opportunities outside of China while continuing to operate its existing business. Through this private placement, Majestic Gold has secured a cash reserve of approximately C$49.23 million, providing a financial foundation for expanding its gold asset portfolio beyond China.
