Majestic Gold Corp.'s subsidiary, Persistence Resources Group Ltd., has announced a private placement financing on the Hong Kong Stock Exchange to raise up to HK$472 million. The placement involves issuing up to 400 million common shares at HK$1.18 per share, representing a discount to recent market prices. Upon completion, Majestic's ownership in Persistence will decrease from 70.5% to approximately 58.8%. Persistence plans to use the proceeds for potential gold mine project acquisitions, business expansion, and general working capital.
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