Mr. Eric Sprott Invests $4.1 Million in Crest Resources's, 20.9% Owned Exploits Discovery Corp.
Vancouver, April 27, 2021 - Crest Resources Inc. (CNSX:CRES.CN) ("Crest" or the "Company") congratulates Exploits Discovery Corp. ("Exploits") on its $4.1 million fund raising with key investor Eric Sprott. The entire private placement is being fully subscribed and invested into by Mr. Sprott. Upon completion of the financing, Mr. Sprott will hold 9.81% of the outstanding shares of Exploits on a non-diluted basis and 14.45% on a fully diluted basis. On close of this financing, Crest will hold an undiluted 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 an exploration company and develop a strong and diverse shareholder base. Exploits is well positioned for discovery in Newfoundland. Our investment in Exploits continues to drive value for Crest shareholders. Exploits is a great example of our core philosophy for investing and building exploration and related mining technology companies. Crest continues to working to build and value similar projects, investments and technologies."
About Crest Resources Inc.
Crest Resources Inc. is a British Columbia company listed on the Canadian Securities Exchange under the symbol CRES. The Company'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 companies and related mining technologies of merit. The Company's Canadian assets include various land and corporate ownership positions within the Exploits Subzone, the newest emerging district-scale gold exploration and mining district in the province of Newfoundland and Labrador, mineral recovery systems with 3RC/Ecomine/Gemina Labs, copper and gold exploration in the Toodoggone with Volatus Capital and vanadium in Queensland Australia
FOR FURTHER INFORMATION CONTACT:
Michael Collins, President and CEO
Crest Resources Inc.
Telephone: 778-819-2709
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements: This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.