(TheNewswire)
Vancouver, B.C. - TheNewswire – October 12, 2021 –This news release is being disseminated by Crest Resources Inc. (the“ Acquiror ”) (CSE: CRES)(CNSX:CRES.CN) pursuant to National Instrument62-103, The Early WarningSystem and Related Take-Over Bid and Insider ReportingIssues, in connection with the acquisition ofcertain common shares (the “ Common Shares ”) of Volatus Capital Corp.(the “ Issuer ”), a British Columbia corporation whose common shares arelisted for trading on the Canadian Securities Exchange under thesymbol “VC”.
On October 12, 2021, theAcquiror acquired 3,800,000 units at a price of $0.10 per unit fortotal investment of $380,000 by way of a private placement.
This transaction represents an increase of 6.48% in theAcquiror’s securityholding percentage in the issued and outstandingCommon Shares of the Issuer, or an increase of 12.17% 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 20,765,667 Common Shares of the Issuer representing 38.01%of the issued and outstanding Common Shares based on a total of54,644,407 Common Shares outstanding as of September 22, 2021; or24,665,667 Common Shares of the Issuer representing 42.14% of theoutstanding shares assuming exercise of the 3,900,000 warrants held bythe Acquiror.
Subsequent to the transaction, the Acquiror owned orcontrolled 24,565,667 Common Shares of the Issuer representing 41.89%of the issued and outstanding Common Shares based on a total of58,644,407 Common Shares outstanding as of October 12, 2021; or32,265,667 Common Shares of the Issuer representing 48.64% of theoutstanding shares assuming exercise of the 7,700,000 warrants held bythe Acquiror.
Emma Fairhurst (“Fairhurst”), Chairperson, interimChief Executive Officer, Director and 10% holder of the Acquiror, is ajoint actor of the Acquiror.
Prior to thetransaction, the Acquiror together with Fairhurst owned and controlled28,760,667 Common Shares of the Issuer representing 52.64% of the thenissued and outstanding Common Shares of the Issuer based on a total of54,644,407 Common Shares outstanding as of September 22, 2021; or32,660,667 Common Shares of the Issuer representing 55.79% of theoutstanding shares assuming exercise of the 3,900,000 warrants held bythe Acquiror.
Subsequent to the transaction, the Acquiror togetherwith Fairhurst owned and controlled 32,560,667 Common Shares of theIssuer representing 55.53% of the then issued and outstanding CommonShares of the Issuer based on a total of 58,644,407 Common Sharesoutstanding as of October 12, 2021; or 40,260,667 Common Shares of theIssuer representing 60.69% of the outstanding shares assuming exerciseof the 7,700,000 warrants held by the Acquiror.
The Acquiror acquired 3,800,000 units at a price of$0.10 per unit for a total purchase price of $380,000 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 orinstruments (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 October 12,2021 to be filed by the Acquiror in connection with the acquisition of the units of the Issuer will be available onSEDAR at www.sedar.com under theIssuer’s profile. Copies of such reports will also be availablefrom the Acquiror upon written 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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