(TheNewswire)
Vancouver, B.C. – TheNewswire - June 3, 2021 – This news release is beingdisseminated by Emma Fairhurst (the “ Acquiror ”) pursuantto National Instrument 62-103, The Early Warning System and Related Take-Over Bid and InsiderReporting Issues, in connection with theacquisition of certain common shares (the “ Common Shares ”) ofCrest Resources Inc. (CNSX:CRES)(OTC:CRSTF) (the “ Issuer ”), a BritishColumbia corporation whose common shares are listed for trading on theCanadian Securities Exchange under the symbol “CRES”.
On June 1, 2021, the Acquiror acquired 5,023,175 CommonShares at a deemed price of $0.10 per Common Share for totalinvestment of $502,317.50 by way of a bonus in recognition of theservices provided to the Issuer and reflective of the increased valueof the Issuer’s investments due to such services (the“Transaction”).
This Transaction represents 5.97% of the issued andoutstanding Common Shares of the Issuer and resulted in the increasein the Acquiror’s security holding percentage in the Common sharesfrom 22.21% to 28.18%.
Prior to the Transaction, the Acquiror owned 150,000stock options of the Issuer, and controlled 18,706,577 Common Sharesof the Issuer, and 9,000,000 warrants representing 26.85% of the thenissued and outstanding Common Shares of the Issuer based on a total of69,683,507 Common Shares outstanding as of May 31, 2021; or 27,856,577Common Shares of the Issuer representing 35.34% of the outstandingshares assuming exercise of the 150,000 stock options and 9,000,000warrants held by the Acquiror.
Subsequent to the Transaction, the Acquiror owned andcontrolled 23,856,577 Common Shares of the Issuer representing 28.18%of the then issued and outstanding Common Shares of the Issuer basedon a total of 84,222,196 Common Shares outstanding as of June 1, 2021;or 27,856,577 Common Shares of the Issuer representing 35.34% of theoutstanding shares assuming exercise of the 150,000 stock options and9,000,000 warrants held by the Acquiror.
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 June XX, 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. Copies of such reports will also be availablefrom the Acquiror upon written request to Emma Fairhurst at 150-1350Burrard Street, Vancouver, BC Tel:604-681-3170.
For additional information, contact:
Emma Fairhurst
604-681-3170
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