(TheNewswire)
Vancouver, B.C. – TheNewswire - July 6th, 2022 - Crest ResourcesInc. (“Crest” or the “Company”)(CSE:CRES) announces that it has exercised its option to acquire afurther 2.1 million shares of the issued and outstanding share capitalof OCP Holdings Ltd. (“OCP”) from Garry Stock and 0744350 BC Ltd.,a company beneficially owned and controlled by Jason Cubitt.
The OCP shares were acquired for consideration of2,688,000 common shares of the Company at a deemed price of $0.10 pershare (the “Crest Shares”). Together with shares previouslypurchased (see news release dated December 15 th , 2020), theCompany now owns a total of 12,666,667 shares representing 43% of theissued and outstanding shares of OCP. Both Jason Cubitt and GarryStock are directors of the Company and have abstained from voting onthe transaction. The Crest Shares are subject to a statutory fourmonth hold period expiring November 7, 2022.
Stock Options
The Company also announces that, in accordance with theCompany’s stock option plan, it has granted to an officer of theCompany incentive stock options to purchase 200,000 common shares ofthe Company exercisable on or before July 6, 2027 at a price of $0.06.All stock options will vest over 24 months, as to 20% immediately and20% every 6 months thereafter.
FOR FURTHER INFORMATIONCONTACT:
Jason Cubitt
Chief Executive Officer
Emma Fairhurst
Executive Chairperson
Crest Resources Inc.
778-819-2709
info@crestresourcesinc.com
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
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