Junior Gold Miner Glisters on Financing Announcement

Majestic Gold Corp. (TSXV:MJS), a junior gold miner, gained ground after closing a $9.7 million financing at $0.15 per share

Sean Mason | February 12, 2018 | SmallCapPower

A big-time financing boosted shares of a tiny China junior gold miner Monday. Here’s some small stocks making big moves on Monday, February 12, 2018 (as of 4 pm EST):

Majestic Gold Corp. (TSXV:MJS) shares gained 20% to $0.06 on Monday after the junior gold miner announced the closing of a $9.7 million non-brokered private placement financing at $0.15 per common share. The Company said it intends to use the proceeds from the Offering for general working capital, to advance its projects, and to fund possible acquisitions.

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As well, shares of Covalon Technologies Ltd. (TSXV:COV) fell 19% to $5.81 as the medical technologies company said its first-quarter net income slipped to $523,345 from $543,110 during the same period last year.

Bold Ventures Inc. (TSXV:BOL), meanwhile, reported the acquisition of two separate lithium claim groups located within the Georgia Lake Area Pegmatite field in northern Ontario. Bold Ventures stock moved up 14% to $0.04 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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