VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 29, 2013) - Majestic Gold Corp. (News - Market indicators)(FRANKFURT:A0BK1D) ("Majestic" or the "Company") is pleased to announce that it has appointed two new directors to sit as independent directors, Dusan Berka and Martin Wood.
Mr. Berka is a professional engineer with over 30 years of experience serving as a director and senior officer of public companies traded on the Toronto Stock Exchange, the TSX Venture Exchange, NASDAQ and Deutsche Boerse. He has extensive experience in corporate governance, regulatory compliance and administration of public companies, corporate finance and marketing. Mr. Berka is currently a director and Chief Executive Officer of Megastar Development Corp., a TSX Venture Exchange listed company and also serves as director of four other TSX Venture Exchange listed companies. Mr. Berka has, in addition, been appointed Chairman of the Board. He replaces Mr. Gengshu Miao, who has been appointed Honorary Chairman of the Company.
Mr. Wood is the managing director of Vicarage Capital Ltd., a full service brokerage firm registered with the Financial Services Authority of the United Kingdom, offering assistance to resource companies on financial structuring and corporate development as well as debt and equity financings, asset valuations and M&A execution. Mr. Wood serves as director of two other TSX Venture Exchange listed companies.
Mr. Berka and Mr. Wood have also been appointed to sit as independents on the Company's Audit Committee, Compensation Committee, Corporate Governance Committee and Nominating Committee, and will be management nominees for election to the Board at the Company's upcoming Annual General Meeting, scheduled for November 21, 2013.
Also at the AGM, shareholders will be asked to consider alterations to the Company's Articles to include so-called "Advance Notice Provisions" and "Notice and Access Provisions", and to adopt a new set of Articles including those provisions. The Company's Information Circular for the AGM contains a description of the proposed alterations and is posted under the Company's profile on SEDAR at www.sedar.com. Pending a vote on the alteration of the Articles at the AGM, the Board has adopted an Advance Notice Policy (the "Policy") with a view towards providing shareholders, directors and management of the Corporation with a fair and transparent procedure for nominating directors at the upcoming AGM. The Policy establishes November 4, 2013 as the deadline by which any shareholder desiring to nominate any person for election as a director at the AGM must submit such nomination, and stipulates the information that such holder(s) must include with such nominations in order for any director nominee to be eligible for election at the Meeting. The Policy will remain in force only until the conclusion of the AGM. If the Advance Notice Provisions are adopted at the Meeting, the Articles will be amended accordingly and all future nominations will be subject to the Advance Notice Provisions. If the Advance Notice Provisions are not adopted at the Meeting, the Corporation will thereafter have no advance notice policy. A copy of the Policy is also posted under the Company's profile on SEDAR.
About Majestic Gold
Majestic Gold Corp. is a Vancouver, BC based company engaged in commercial gold production at the Song Jiagou gold mine in Yantai, China. It continues to seek out other projects to add value to the Company. Additional information on the Company and its project is available at www.sedar.com and on the Company's website at www.majesticgold.net.
On Behalf of the Board of Directors
MAJESTIC GOLD CORP.
Rod Husband, P.Geo, President and CEO
Cautionary Notes
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
