(TheNewswire)
Vancouver, B.C. - TheNewswire - November 20, 2020 -Crest Resources Inc. ("Crest" or the "Company")(CSE: CRES) announces that effective November 19, 2020 it has adoptedan amended restricted share unit plan (the "RSU Plan"), tothat previously approved by the Board of Directors on February 28,2020 (as later amended April 20, 2020).
For awards granted under the RSU Plan to exceed 10% ofthe Company's outstanding shares in any 12 month period, the plan mustbe approved by the Company's shareholders. Inthat regard, the Company has mailed to its Shareholders an Addendum toits Information Circular dated October 30, 2020 pertaining to itsAnnual and Special Meeting to be held on December 3, 2020 (the"Meeting"). The resolution to approve the RSU Plan must beapproved by a simple majority of all eligiblevotes cast by disinterested shareholders . All persons who could participateunder the RSU Plan will not be entitled to vote on the resolution,such that 4,300,000 shares held by such personswill be excluded for the purpose of determining shareholderapproval.
The Addendum and the RSU Plan are filed on SEDAR, andcopies are available from the Company on request.
The purpose of the RSU Plan is to allow for certaindiscretionary bonuses and similar awards to be granted as an incentiveor reward for selected eligible persons related to the achievement ofthe Company's objectives, including increases in the value of theCompany. The Plan is intended to promote a greater alignment ofinterests between the objectives of the Company and the selectedeligible persons by providing an opportunity to participate inincreases in the value of the Company.
About Crest Resources Inc.
Crest Resources Inc. is a British Columbia companylisted on the Canadian Securities Exchange under the symbol CRES. TheCompany's principal business activity is the acquisition, explorationand evaluation of mineral property assets in Canada, Australia andPeru and the investment in mineral exploration companies and relatedmining technologies of merit. The Company's Canadian mineral propertyassets include various land and corporate ownership positions withinthe Exploits Subzone, the newest emerging district-scale goldexploration and mining district in the province of Newfoundland andLabrador.
FOR FURTHER INFORMATIONCONTACT:
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: 604-681-3170
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