(TheNewswire)
Vancouver, B.C. - TheNewswire- July 2, 2021 - This news release is being disseminated by Crest ResourcesInc. (CNSX:CRES.CN) (OTC: CRSTF) (the “ Acquiror ”) pursuant to National Instrument62-103, The Early WarningSystem and Related Take-Over Bid and Insider ReportingIssues, in connection with the disposition ofcertain common shares (the “ Common Shares ”) of Exploits Discovery Corp.(the “ Issuer ”), a British Columbia corporation whose common shares arelisted for trading on the Canadian Securities Exchange under thesymbol “NFLD”.
On June 30, 2021, the Acquiror disposed of 7,000,000Common Shares of the Issuer through the facilities of the CanadianSecurities Exchange (the “Transaction”) representing 6.92% of theissued and outstanding Common Shares of the Issuer.
The Acquiror’s security holding percentage in theCommon Shares as a result of Transaction went from 12.81% prior to theTransaction to 5.90% following the Transaction.
Prior to the Transaction, the Acquiror owned andcontrolled 12,969,476 Common Shares representing 12.81% of the thenissued and outstanding Common Shares of the Issuer based on a total of101,265,992 Common Shares outstanding as of June 30, 2021.
Subsequent to the Transaction, the Acquiror owned andcontrolled 5,969,476 Common Shares representing 5.90% of the issuedand outstanding Common Shares of the Issuer.
Michael Collins (“Collins”), the President andChief Executive Officer of the Acquiror, is a joint actor of theAcquiror as that term is used in NI 62-103.
Prior to the Transaction, the Acquiror together withCollins owned and controlled 14,796,976 Common Shares, 102,000warrants and 600,000 options of the Issuer representing 14.62% of thethen issued and outstanding Common Shares of the Issuer based on atotal of 101,265,992 Common Shares outstanding as of June 30, 2021 (or15.20% assuming exercise of the warrants and options).
Subsequent to the Transaction, the Acquiror togetherwith Collins owned and controlled 7,796,976 Common Shares of theIssuer representing 7.70% of the then issued and outstanding CommonShares of the Issuer based on a total of 101,265,992 Common Sharesoutstanding as of June 30, 2021 (or 8.34% assuming exercise of thewarrants and options).
The Acquiror received $7,003,158 for the disposition ofthe 7,000,000 Common Shares as follows: 6,902,400 at a price of $1.00per Common Share; 54,000 at a price of $1.04 per Common Share; 28,100at a price of $1.03 per Common Share; and 15,500 at a price of $1.01per Common Share.
The Acquiror has disposed of 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 July 2, 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 the Issuer’s profile. Copies of such reports will also beavailable from the Acquiror upon written request to Crest ResourcesInc. at #3043, 595 Burrard Street, Vancouver, BC V7X 1J1 Tel: 778 8192709.
For additional information, contact:
Michael Collins
President and CEO
Crest Resources Inc.
778 819 2709
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