(TheNewswire)
Vancouver, B.C. - TheNewswire – July 28, 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 (“NI 62-103”), in connection with theacquisition of certain common shares (the “ Common Shares ”) ofGolcap Resources Inc. (the “ Issuer ”), a British Columbia corporationwhose common shares are listed for trading on the Canadian SecuritiesExchange under the symbol “GCP”.
On July 28, 2021, the Acquiror acquired 6,300,000 unitsat a price of $0.06 per unit for total investment of $378,000 by wayof a private placement. Each unit consists of one Common Share of theIssuer and one share purchase warrant, each warrant exercisable topurchase one Common Share of the Issuer at a price of $0.075 for aperiod of 60 months expiring July 28, 2026 (the“Transaction”).
This transaction represents 22.58% in the Acquiror’ssecurityholding percentage in the issued and outstanding Common Sharesof the Issuer and 36.84% of the deemed outstanding Common Shares ofthe Issuer including the 6,300,000 warrants held by the Acquiror on anexercised basis.
Prior to the Transaction, the Acquiror did not hold anysecurities of the Issuer.
Subsequent to the Transaction, the Acquiror owned andcontrolled 6,300,000 Common Shares of the Issuer representing 22.58%of the then issued and outstanding Common Shares of the Issuer basedon a total of 27,905,586 Common Shares outstanding as of July 28,2021; or 12,600,000 Common Shares of the Issuer representing 36.84% ofthe outstanding shares assuming exercise of the 6,300,000 warrantsheld by the Acquiror.
0.a The Acquiror acquired 6,300,000 units at a price of $0.06 perunit for total consideration of $378,000 in connection with a privateplacement 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 July 28, 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 such report will also be available from the Acquiror upon written request to CrestResources Inc. at #3043, 595 Burrard Street, Vancouver, BC V7X 1J1Tel: 778 819 2709.
For additional information, contact:
Michael Collins
President and CEO
Crest Resources Inc.604-681-3170
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