(TheNewswire)
Vancouver, B.C. - TheNewswire – May 19, 2021 – Thisnews release is being disseminated by Crest Resources Inc. (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 Cayenne Capital Corp. (the “ Issuer ”), a BritishColumbia corporation.
On May 18, 2021, the Acquiror acquired 5,500,000 CommonShares of the Issuer at a deemed price of $0.05 per Common Share. TheCommon Shares were issued pursuant to an assignment agreement enteredinto between the Issuer and the Acquiror (the “Transaction”). ThisTransaction represents 27.90% in the Acquiror’s security holdingpercentage in the issued and outstanding Common Shares of the Issuer.
The Acquiror owns and controls 5,500,000 Common Sharesof the Issuer representing 27.90% of the outstanding shares of theIssuer pursuant to the Transaction. The5,500,000 Common Shares issued to the Acquiror were acquired inconnection with an assignment agreement at a deemed price of $0.05 perCommon Share for total consideration of $275,000. The Common Shares were acquired as partial consideration forthe assignment by the Acquiror to the Issuer of the Acquiror’srights under a property option agreement.
The Acquiror has acquired the Common Shares forinvestment purposes and in accordance with applicable securities laws. The Acquiror may, from time to time, acquire additional commonshares and/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 May 19, 2021to 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 theIssuer’s profile. A copy of the report will also be available fromthe Acquiror upon written request to Crest Resources Inc. at #3043,595 Burrard Street, Vancouver, BC V7X 1J1.
For additional information, contact:
Michael Collins
President and CEO
Crest Resources Inc.
604-681-3170
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