(WLFC, MJGCF, DEST, EDMC) Stock Highlights by DrStockPick.com
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Willis Lease Finance Corporation (Nasdaq:WLFC) announced that its board of directors has declared the regular monthly cash dividend for its 9% Series A, Cumulative Redeemable Preferred Stock (Nasdaq:WLFCP) of $0.075 per share. The preferred dividend will be paid on February 15 to shareholders of record as of February 3, 2012.
Willis Lease Finance Corporation, together its subsidiaries, provides aviation services. It leases spare commercial aircraft engines and aircraft to commercial airlines, aircraft engine manufacturers, and air cargo carriers, as well as maintenance, repair, and overhaul facilities worldwide.
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Majestic Gold Corp. (MJGCF.PK)
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
Gold, like no other metal, has a fascinating history and a special place in the world. For thousands of years it has been used as an ornament of kings, a currency and standard for global currencies, and more recently, in a wide range of electronic devices and medical applications.
Gold’s many unique properties have secured it a central role in history and human development. Gold is a remarkable, rare metal, with an unparalleled combination of chemical and physical properties. It is the only yellow metal and bears its name from the Old English word for yellow, ‘geolu’. It is also the only metal that forms no oxide film on it’s surface in air at normal temperatures, meaning that it will never rust or tarnish.
Majestic Gold Corp. (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information about company: www.majesticgold.net
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Destination Maternity Corporation (Nasdaq:DEST) announced operating results for the first quarter of fiscal 2012, which ended December 31, 2011. The Company’s diluted earnings per share for its first quarter of fiscal 2012 were at the low end of its November 17, 2011 earnings guidance. On January 25, 2012 the Company announced that its Board of Directors declared a regular quarterly cash dividend of $0.175 per share payable March 28, 2012.
Destination Maternity Corporation engages in the design and retail of maternity apparel. It offers casual and career wear, formal attire, lingerie, sportswear, and outerwear.
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Education Management Corporation (NASDAQ:EDMC) announced that it will host a conference call at 9:00 a.m. Eastern Time on Thursday, February 2, 2012 to review financial results for the second quarter of fiscal 2012. Results for the quarter are expected to be released after the market close on February 1, 2012. Interested parties can access the live webcast of the conference call at www.edmc.edu.
Education Management Corporation provides post-secondary education in North America. It offers academic programs to students through campus-based and online instruction to earn undergraduate and graduate degrees, including doctoral degrees, and certain specialized non-degree diplomas in a range of disciplines.
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Tags: DEST, destination, EDMC, Education, Majestic Gold, MJGCF, Nasdaq:DEST, NASDAQ:EDMC, Nasdaq:WLFC, Stock Highlights, Willis Lease, WLFC
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