Vancouver, B.C. - TheNewswire - July 2, 2021 - This news release is being disseminated by Crest Resources Inc. (CNSX:CRES.CN) (OTC:CRSTF) (the “Acquiror”) pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the disposition of certain common shares (the “Common Shares”) of Exploits Discovery Corp. (the “Issuer”), a British Columbia corporation whose common shares are listed for trading on the Canadian Securities Exchange under the symbol “NFLD”.
On June 30, 2021, the Acquiror disposed of 7,000,000 Common Shares of the Issuer through the facilities of the Canadian Securities Exchange (the “Transaction”) representing 6.92% of the issued and outstanding Common Shares of the Issuer.
The Acquiror’s security holding percentage in the Common Shares as a result of Transaction went from 12.81% prior to the Transaction to 5.90% following the Transaction.
Prior to the Transaction, the Acquiror owned and controlled 12,969,476 Common Shares representing 12.81% of the then issued and outstanding Common Shares of the Issuer based on a total of 101,265,992 Common Shares outstanding as of June 30, 2021.
Subsequent to the Transaction, the Acquiror owned and controlled 5,969,476 Common Shares representing 5.90% of the issued and outstanding Common Shares of the Issuer.
Michael Collins (“Collins”), the President and Chief Executive Officer of the Acquiror, is a joint actor of the Acquiror as that term is used in NI 62-103.
Prior to the Transaction, the Acquiror together with Collins owned and controlled 14,796,976 Common Shares, 102,000 warrants and 600,000 options of the Issuer representing 14.62% of the then issued and outstanding Common Shares of the Issuer based on a total of 101,265,992 Common Shares outstanding as of June 30, 2021 (or 15.20% assuming exercise of the warrants and options).
Subsequent to the Transaction, the Acquiror together with Collins owned and controlled 7,796,976 Common Shares of the Issuer representing 7.70% of the then issued and outstanding Common Shares of the Issuer based on a total of 101,265,992 Common Shares outstanding as of June 30, 2021 (or 8.34% assuming exercise of the warrants and options).
The Acquiror received $7,003,158 for the disposition of the 7,000,000 Common Shares as follows: 6,902,400 at a price of $1.00 per Common Share; 54,000 at a price of $1.04 per Common Share; 28,100 at a price of $1.03 per Common Share; and 15,500 at a price of $1.01 per Common Share.
The Acquiror has disposed of the Common Shares for investment purposes and in accordance with applicable securities laws. The Acquiror may, from time to time, acquire additional common shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Issuer in the open market or otherwise, and reserves the right, subject to applicable securities law, to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Issuer and other relevant factors.
A copy of the early warning report dated July 2, 2021 to be filed by the Acquiror in connection with the acquisition of the Common Shares of the Issuer will be available on SEDAR at www.sedar.com under the Issuer’s profile. Copies of such reports will also be available from the Acquiror upon written request to Crest Resources Inc. at #3043, 595 Burrard Street, Vancouver, BC V7X 1J1 Tel: 778 819 2709.
For additional information, contact:
Michael Collins
President and CEO
Crest Resources Inc.
778 819 2709
Copyright (c) 2021 TheNewswire - All rights reserved.
