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Vancouver, British Columbia TheNewswire - October 14, 2025 - Majestic Gold Corp. ("Majestic" or the "Company") (TSX.V: MJS, FSE: A0BK1D) ) is pleased to announce that its Hong Kong Stock Exchange ("HKEX") listed subsidiary, Persistence Resources Group Ltd. ("Persistence") (Stock Code: 2489), has completed a private placement financing (the "Private Placement") for gross proceeds of $472 million (approximately CAD$85.2 million)("Placement").
Pursuant to the Placement, Persistence issued 400 million common shares (the "Shares") at a price of HK$1.18 per Share (approximately CAD$0.213 per Share) on the HKEX. The Share price of HK$1.18 represents a discount of approximately 19.2% to the closing price of HK$1.46 per Share (approximately CAD$0.262 per Share) as quoted on the HKEX on the date of the placing agreement; and a discount of approximately 18.5% to the average closing price of approximately HK$1.448 per Share (approximately CAD$0.259 per Share) as quoted on the HKEX for the last five consecutive trading days prior to the date of the placing agreement.
In connection with the private placement, Persistence will pay aggregate placing agents' commissions of HK$5,244,719 (approximately CAD$946,975), representing 1.1% of the gross proceeds. The commissions will be paid to Huafu International Securities Limited, Forthright Securities Company, and First Shanghai Securities Limited as placing agents.
The Shares represent approximately 20.0% of the total issued and outstanding shares of Persistence as of the date of this announcement and approximately 16.7% of the enlarged total number of issued shares upon completion of the Placement.
Persistence intends to use the estimated net proceeds of the Placement primarily for (i) potential gold mine project acquisitions; (ii) acceleration of its business expansion; and (iii) general working capital and other general corporate purposes.
About Majestic Gold
Majestic Gold Corp., a British Columbia based company, is a low-cost junior gold producer engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. 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, CFO and Corporate Secretary
Telephone: (604) 560-9060
Email: info@majesticgold.com
Website: www.majesticgold.com
Cautionary Notes
Certain statements contained herein may constitute forward‐looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward‐looking statements are statements which relate to future events. Such statements include estimates, forecasts, and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives, and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.
In some cases, you can identify forward‐looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward‐looking statements.
While these forward‐looking statements, and any assumptions upon which they are based, are made in good faith, and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward‐looking statements to conform these statements to actual results
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