Majescor Resources Acquires Mining Division of Diagnos

Published: March 21, 2017 |

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Majescor Resources Inc. has signed an agreement with Diagnos Inc. for the purchase of its assets from the mining division, including the Computer Aided Resources Detection System (CARDS), for total value of $800,000.

“This is a game changer for Majescor. It puts us in the forefront in becoming the leader in using artificial intelligence and machine learning for mineral exploration. DIAGNOS has over a 10-year track record of using and perfecting its CARDS system and we are excited about the added value that Majescor will now be able to provide to our own mineral projects as well as the potential for revenue-generating third party applications,” said André Audet, president and CEO of Majescor.

Under the terms of the agreement, on or before March 31, 2017, Majescor will issue 8,000,000 common shares of its share capital to DIAGNOS, at a deemed price of $0.10 per share, in payment for the acquisition of the assets, consisting of DIAGNOS’ mining claims, royalty agreements, and the CARDS system. Additionally, Majescor will remit to DIAGNOS (i) 50 percent of any payment that Majescor receives from the royalty agreements forming part of the acquired assets, and (ii) 5 percent of revenues generated by the commercialization of the CARDS system.

About Majescor Resources
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec.

To stop by Majescor Resources’ website, CLICK HERE

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