(TheNewswire)
Vancouver, B.C. - TheNewswire- August 30, 2021 - This news release is beingdisseminated by Crest Resources Inc. (CNSX:CRES.CN) (OTC:CRSTF) (the“ Acquiror ”) pursuant to National Instrument 62-103, The Early Warning System and RelatedTake-Over Bid and Insider Reporting Issues, inconnection with the acquisition of certain common shares (the“ Common Shares ”) of Origen Resources Inc. (the “ Issuer ”), a BritishColumbia corporation whose common shares are listed for trading on theCanadian Securities Exchange under the symbol “ORGN”.
On August 20, 2021 theAcquiror acquired 15,000 Common Shares of the Issuer through thefacilities of the Canadian Securities Exchange (the “CSE”) at aprice of $0.29 per Common Share. This acquisition, when combined withacquisitions of Common Shares of the Issuer by the Acquiror since July7, 2021, being the date of the last early warning report filed by theAcquiror with respect to the Issuer, exceeded 2% of the issued andoutstanding Common Shares of the Issuer and triggered the requirementto file this report. This resulted in a change in the Acquiror’sholdings in the Common Shares of the Issuer from 12.19% to12.24%.
Prior to the Transaction, the Acquiror owned andcontrolled 3,966,500 Common Shares and 416,667 warrants representing12.19% of the then issued and outstanding Common Shares based on atotal of 32,525,906 Common Shares outstanding as of August 24, 2021(or 13.30% assuming exercise of the warrants). Subsequent to theTransaction, the Acquiror owned and controlled 3,981,500 Common Sharesand 416,667 warrants representing 12.24% of the issued and outstandingCommon Shares of the Issuer based on a total of 32,525,906 CommonShares outstanding as of August 25, 2021 (or 13.35% assuming exerciseof the warrants).
(0.a) The 15,000 Common Shares were acquired at a price of $0.29per Common Share for consideration of $4,350.
(0.b) The Acquiror has acquired the Common Shares for investmentpurposes and in accordance with applicable securities laws. TheAcquiror may, from time to time, acquire additional common sharesand/or other equity, debt or other securities or instruments(collectively, “ Securities ”) of the Issuer in the openmarket or otherwise, and reserves the right, subject to applicablesecurities law, to dispose of any or all of its Securities in the openmarket or otherwise at any time and from time to time, and to engagein similar transactions with respect to the Securities, the wholedepending on market conditions, the business and prospects of theIssuer and other relevant factors.
A copy of the early warning report dated August 30,2021 to be filed by the Acquiror in connection with the acquisition of the Common Shares of the Issuer will beavailable on SEDAR at www.sedar.com under the Issuer’s profile. Copies of such reports will also be available from the Acquiror uponwritten request to Crest Resources Inc. at #3043, 595 Burrard Street,Vancouver, BC V7X 1J1 Tel: 778 819 2709.
For additional information, contact:
Emma Fairhurst
Chairperson and interim CEO
Crest Resources Inc.
778 819 2709
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