(TheNewswire)
Vancouver, B.C. – TheNewswire- March 9, 2022 – (CSE:VC) This newsrelease 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 Volatus Capital Corp. (the “ Issuer ”), a BritishColumbia corporation whose common shares are listed for trading on theCanadian Securities Exchange under the symbol “VC”.
On March 9, 2022 theAcquiror acquired 12,200,000 units at a price of $0.05 per unit fortotal investment of $610,000 by way of a private placement.
This transaction represents an increase of 17% in theAcquiror’s securityholding percentage in the issued and outstandingCommon Shares of the Issuer, or an increase of 29.06% in theAcquiror’s securityholding percentage of the deemed outstandingshares of the Issuer assuming exercise of the warrants held by theAcquiror.
Prior to the transaction, the Acquiror owned orcontrolled 24,965,667 Common Shares of the Issuer representing 44.14%of the issued and outstanding Common Shares based on a total of56,569,407 Common Shares outstanding as of March 9, 2022; or32,665,667 Common Shares of the Issuer representing 50.83% of theoutstanding shares assuming exercise of the 7,700,000 warrants held bythe Acquiror.
Subsequent to the transaction, the Acquiror owned orcontrolled 37,165,667 Common Shares of the Issuer representing 51.79%of the issued and outstanding Common Shares based on a total of71,769,407 Common Shares outstanding as of March 9, 2022; or57,065,667 Common Shares of the Issuer representing 62.26% of theoutstanding shares assuming exercise of the 19,900,000 warrants heldby the Acquiror.
The Acquiror acquired 12,200,000 units at a price of$0.05 per unit for a total purchase price of $610,000 in connectionwith a private placement subscription agreement.
The Acquiror has acquired the units 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 March 9, 2022o be filed by the Acquiror in connection with the acquisition of theunits of the Issuer will be available 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.
For additional information, contact:
Christopher Huggins
President and COO
Crest Resources Inc.
778 819 2709
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