Freedom Oil & Gas Announces Initial Funding For Its El Grande Project

Freedom Oil & Gas, Inc., which has contracted to become a wholly-owned subsidiary of The Majestic Companies, Ltd. (OTCBB: MJXX), announced that it has received initial funding for its planned operations to re-enter and re-complete the Edgmon #1 Well on the El Grande Prospect in Faulkner County, Arkansas. Freedom acquired the natural gas prospect covering approximately 6,000 acres in the Arkoma Basin in September. The funds received have allowed Freedom to retain a land company, and to acquire additional leases and well equipment. Additionally, Freedom has obtained the necessary right of way for its proposed pipeline and a commitment for a connection to the interstate pipeline approximately 4 miles from the Edgmon #1 Well. Freedom also announced that it is in discussions with potential industry partners for possible participation in the project.

Freedom is a junior oil & gas company with interests in Utah, Oklahoma and Arkansas. Freedom's plan of operations includes a balance of developmental and exploratory oil & gas prospects. For additional information on the company and its projects, please visit Freedom's website at www.freedomoilandgas.com or contact Investor Relations, at 1-866-238-1185, between the hours of 9-5 PM, Eastern Time.

On behalf of the Board: J. David Gowdy, Chairman and CEO

This news release has been prepared by management of Freedom Oil & Gas and the Majestic Companies, Ltd., who take full responsibility for its contents. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.