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Shareholders Approve Sale of Assets at AGM

FSCWIRE

Shareholders Approve Sale of Assets at AGM

La Ronge, Saskatchewan (FSCwire) – Majesta Minerals Inc. (“MMI”) wishes to announce that at the annual general and special meeting held on January 24, 2018, the shareholders approved: (a) the sale of its assets Durama Enterprises Limited (“Durama”) to settle its outstanding debt; (b) consolidation of its common shares (on up to a 10 old for 1 new basis); and (c) a name change. The resolutions may be activated if MMI can complete a reverse takeover transaction. If MMI can complete the reverse takeover transaction, MMI will sell the Majesta Mineral Claims (as set out in the January 5, 2018 press release) to Durama in exchange for the debts owing by MMI which are not paid or settled as part of the reverse takeover transaction. Shareholders holding 8,833,541 of the 10,228,156 common shares (representing 86.4% of the issued and outstanding shares and 100% of the shareholders voting in person or by proxy) approved the: (a) sale transaction; (b) consolidation; and (c) name change. Randy Studer and related parties own 4,022,518 common shares. Of the remaining 6,205,638 common shares (the “minority shareholders” as defined in MI 61-101), shareholders holding 4,811,023 common shares (representing 77.5% of the minority shareholders and 100% of the minority shareholders voting in person or by proxy) approval of the sale transaction. If the asset sale is concluded, minority shareholders who did not approve the sale transaction, consolidation or name change will be provided dissent rights under the Business Corporations Act (Alberta). In the meantime, MMI continues to look for funds to continue its exploration program for the Majesta Mineral Claims. Additional information related to the Corporation may be found on the Canadian Securities Administrators System for Electronic Distribution and Retrieval website at www.sedar.com. Further information may be obtained on the website at www.majestaminerals.com. For further information:

Randy Studer

Majesta Minerals Inc.

Address:

132 Finlayson Street

Box 1080

La Ronge, Saskatchewan S0J 1L0

Tel:

(306) 425-3711

Fax:

(306) 425-2535

Email:

randytstuder@gmail.com

Website:

www.majestaminerals.com

To view the associated document to this release, please click on the following link:

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