Michael Kraft Announces Purchase of Shares in Majesta Minerals Inc.

Toronto, Ontario--(Newsfile Corp. - August 23, 2018) - Michael Kraft announced that effective August 17, 2018 a company controlled by Mr. Kraft, Buckingham Group Limited ("BGL") purchased, in trust, 4,853,867.5 common shares (the "Purchased Shares") in the capital of Majesta Minerals Inc. (the "Corporation") at a price of approximately $42.2075 per Purchased Share for an aggregate purchase price of $115,000. BGL also acquired 1,269,635 irrevocable options from certain shareholders of the Corporation (the "Options"), each Option is exercisable to purchase one (1) Common Share in the capital of the Corporation held by such selling shareholder at a price of $0.03 per Common Share until November 15, 2018.

The Purchased Shares were acquired as part of the closing of a series of arm's length transactions by the Corporation (the "Transactions"), which resulted in a change of control of the Corporation, and represent approximately 34.88% of the Corporation's issued and outstanding Common Shares on an undiluted basis. Assuming the exercise of the Options, Mr. Kraft would have indirect ownership of approximately 40.32% of the issued and outstanding Common Shares of the Corporation, on a partially diluted basis. The above percentages are calculated based on 13,915,502 Common Shares issued and outstanding on August 17, 2018. Mr. Kraft did not own any securities of the Corporation prior to the closing of the Transactions.

The Purchased Shares and Options were acquired for investment purposes. In the future, Mr. Kraft may, depending on market and other conditions, increase or decrease his beneficial ownership of the securities of the Corporation.

For further information please contact:

Michael Kraft
Tel: 416.617.7455
Email: mkraft@buckinghamgrp.com