(TheNewswire)
Vancouver, B.C. - TheNewswire – May 12, 2021? Crest Resources Inc. (CSE:CRES) (CNSX:CRES.CN)(OTC: CRSTF ) (“Crest” or the“Company”) congratulates Exploits Discovery Corp (CSE: NFLD) onit’s $8 million fund raising with key investors New Found Gold(TSXV: NFG) and Mr. Eric Sprott. The entire Private Placement is beingfully subscribed and invested into by Mr. Sprott and New Found Gold;with each party investing $4,000,000. Upon completion of thefinancing, Mr. Sprott will hold 15.1% on a non-diluted basis and 26.3%on a partially diluted basis assuming exercise by Mr. Sprott of allWarrants held; while New Found Gold will hold 13.6% on a non-dilutedbasis and 19.2% on a partially diluted basis assuming exercise by NewFound Gold of all Warrants held.
Michael Collins, Chief Executive Officer and President of CrestResources, commented: "This increased investment from existingshareholders Mr. Eric Sprott, and New Found Gold provides a strongsignal to the market that Newfoundland in general, and Exploitsspecifically are well positioned for discovery. Our investment inExploits Discovery Corp. 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 build and develop value in 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, delays in obtaining governmental approvalsand permits, and other risks in the mining industry. All theforward-looking statements made in this news release are qualified bythese cautionary statements and those in our continuous disclosurefilings available on SEDAR at www.sedar.com. These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
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