(TheNewswire)
Vancouver, B.C. - TheNewswire- August 26, 2021 - This news release is beingdisseminated by Crest Resources Inc. (the “ Acquiror ”) (CNSX:CRES.CN) (OTC:CRSTF) 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 Volatus Capital Corp. (the “ Issuer ”), a BritishColumbia corporation whose common shares are listed for trading on theCanadian Securities Exchange under the symbol “VC”.
On August 25, 2021, the Acquiror acquired 6,250,000Common Shares at a deemed price of $0.12 per Common Share for totalinvestment of $750,000 by way of a private placement.
This transaction represents an increase of 12.34% inthe Acquiror’s securityholding percentage in the issued andoutstanding Common Shares of the Issuer, or an increase of 13.20% inthe Acquiror’s securityholding percentage of the deemed outstandingshares of the Issuer assuming exercise of the 500,000 warrants held bythe Acquiror.
Prior to the Transaction, the Acquiror owned andcontrolled 10,715,667 Common Shares of the Issuer representing 24.14%of the then issued and outstanding Common Shares of the Issuer basedon a total of 44,394,407 Common Shares outstanding as of August 24,2021; or 11,215,667 Common Shares of the Issuer representing 24.99% ofthe outstanding shares assuming exercise of the 500,000 warrants heldby the Acquiror.
Subsequent to the Transaction, the Acquiror owned andcontrolled 16,965,667 Common Shares of the Issuer representing 33.50%of the then issued and outstanding Common Shares of the Issuer basedon a total of 50,644,407 Common Shares outstanding as of August 25,2021; or 17,465,667 Common Shares of the Issuer representing 34.15% ofthe outstanding shares assuming exercise of the 500,000 warrants heldby the Acquiror.
Emma Fairhurst (“Fairhurst”), Chairperson, interimChief Executive Officer, Director and 10% holder of the Acquiror, is ajoint actor of the Acquiror.
Prior to the Transaction, the Acquiror together withFairhurst owned and controlled 18,710,667 Common Shares of the Issuerrepresenting 42.15% of the then issued and outstanding Common Sharesof the Issuer based on a total of 44,394,407 Common Shares outstandingas of August 24, 2021; or 19,210,667 Common Shares of the Issuerrepresenting 42.79% of the outstanding shares assuming exercise of the500,000 warrants held by the Acquiror.
(0.a) Subsequent to the Transaction, the Acquiror together withFairhurst owned and controlled 24,960,667 Common Shares of the Issuerrepresenting 49.29% of the then issued and outstanding Common Sharesof the Issuer based on a total of 50,644,407 Common Shares outstandingas of August 25, 2021; or 25,460,667 Common Shares of the Issuerrepresenting 49.79% of the outstanding shares assuming exercise of the500,000 warrants held by the Acquiror.
(0.b) The Acquiror acquired 6,250,000 Common Shares at a price of$0.12 per Common Share for a total purchase price of $750,000 inconnection with a private placement subscription 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 August 26,2021 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.
For additional information, contact:
Christopher Huggins
President and COO
Crest Resources Inc.
778 819 2709
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