(TheNewswire)
Vancouver, B.C. - TheNewswire - December 8, 2020 - Crest ResourcesInc. (“Crest” or the “Company”) (CSE:CRES) (C NSX :CRES. CN ) announces that theCompany continues to pursue the closing of its acquisition of sharesof OCP Holdings Ltd., formerly Ore Capital Partners Ltd., as detailedin its news release of August 6, 2020. Closing remains subject tocompletion of a satisfactory due diligence review.
The Company has also entered into share exchangeagreements dated December 3, 2020 with each of Michael Collins(“Collins”), the President, CEO and a Director of the Company andAeternum Asset Advisors Inc. (“AAA”) whereby the Company willacquire 433,333 shares of Ecomine Technologies Corp. (“Ecomine”)from Collins in consideration of the issuance of 942,028 shares of theCompany. The Company will acquire a further 900,000 Ecomine sharesfrom AAA in consideration of the issuance of 1,956,522 shares of theCompany to AAA.
The Ecomine shares acquired by the Company represent6.4% of the outstanding shares of Ecomine.
Ecomine has developed a technology platform thatenables it to produce novel biochemical milling reagents with highmineral-binding affinities. The reagents can be dropped into existingmineral processing circuits or utilized to recover residual value fromwaste streams, or be used in environmental remediationapplications.
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,exploration and evaluation of mineral property assets in Canada,Australia and Peru and the investment in mineral exploration companiesand related mining technologies of merit. The Company’s Canadianmineral property assets include various land and corporate ownershippositions within the Exploits Subzone, the newest emergingdistrict-scale gold exploration and mining district in the province ofNewfoundland and Labrador.
FOR FURTHER INFORMATIONCONTACT:
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: 604-681-3170
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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