(TheNewswire)
Vancouver, B.C. - TheNewswire - April 27, 2021 -Crest Resources Inc. (C NSX :CRES. CN ) (“Crest” or the “Company”) congratulatesExploits Discovery Corp. (“Exploits”) on its $4.1 million fundraising with key investor Eric Sprott. The entire private placement isbeing fully subscribed and invested into by Mr. Sprott. Uponcompletion of the financing, Mr. Sprott will hold 9.81% of theoutstanding shares of Exploits on a non-diluted basis and 14.45% on afully diluted basis. On close of this financing, Crest will hold anundiluted 18.47% interest, (13.61%) in Exploits.
Michael Collins, chief executive officer and president of Crest,commented: "We are very pleased to see Exploits mature as anexploration company and develop a strong and diverse shareholder base.Exploits is well positioned for discovery in Newfoundland. Ourinvestment in Exploits continues to drive value for Crestshareholders. Exploits is a great example of our core philosophy forinvesting and building exploration and related mining technologycompanies. Crest continues to working to build and value similarprojects, investments and technologies."
About Crest Resources Inc.
Crest Resources Inc. is a British Columbia companylisted on the Canadian Securities Exchange under the symbol CRES. TheCompany’s principal business activity is the acquisition,exploration and evaluation of mineral property assets in Canada,Australia and Peru and the investment in mineral exploration companiesand related mining technologies of merit. The Company’s Canadianassets include various land and corporate ownership positions withinthe Exploits Subzone, the newest emerging district-scale goldexploration and mining district in the province of Newfoundland andLabrador, mineral recovery systems with 3RC/Ecomine/Gemina Labs,copper and gold exploration in the Toodoggone with Volatus Capital and v anadium in Queensland Australia.
FOR FURTHER INFORMATIONCONTACT:
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: 778 - 819 - 2709
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management’s current expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, availability of financing, actual results of theCompany’s exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof andthe Company does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
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