Vancouver, B.C. - TheNewswire - August 5, 2021 - This news release is being disseminated by Crest Resources Inc. (the “Acquiror”) (CNSX:CRES.CN) (OTC:CRSTF) pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the acquisition of certain common shares (the “Common Shares”) of Cleghorn Minerals Ltd. (the “Issuer”), a British Columbia corporation whose common shares are listed for trading on the TSX Venture Exchange under the symbol “CZZ”.
On August 5, 2021 the Acquiror acquired 1,000,000 Common Shares of the Issuer through the facilities of the TSX Venture Exchange (the “Transaction”) representing 3.56% 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 8.89% prior to the Transaction to 12.44% following the Transaction.
Prior to the Transaction, the Acquiror owned and controlled 2,500,000 Common Shares and 1,750,000 warrants representing 8.89% of the then issued and outstanding Common Shares of the Issuer based on a total of 28,142,592 Common Shares outstanding as of August 5, 2021 or 14.22% assuming exercise of the warrants.
Subsequent to the Transaction, the Acquiror owned and controlled 3,500,000 Common Shares and 1,750,000 warrants representing 12.44% of the issued and outstanding Common Shares of the Issuer or 17.57% assuming exercise of the warrants.
The Acquiror acquired 1,000,000 Common Shares of the Issuer at a price of $0.11 per Common Share or $110,000.
The Acquiror has acquired 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 August 5, 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
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