Business
Crest Resources Completes Sale of Newfoundland Investment to Exploits Discovery Corp.
Vancouver, British Columbia--(Newsfile Corp. - September 18, 2020) - Crest Resources Inc. (CSE: CRES) ("Crest" or the "Company") is pleased to announce that fur
About this update from Mineral Road Discovery Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - September 18, 2020) - Crest Resources Inc. (CSE: CRES) (\"Crest\" or the \"Company\") is pleased to announce that further to the Company's news release of September 2, 2020, the Company has completed the sale of 5,000,000 common shares of its investment in Exploits Gold Corp., a private company with mineral assets in Newfoundland, to Exploits Discovery Corp. (formerly Mariner Resources Corp.), listed on the Canadian Securities Exchange under the symbol \"NFLD\" that is focused on gold exploration in the prolific Exploits Subzone of central Newfoundland and Labrador. The Company, a major shareholder of Exploits Discovery Corp., received 5,000,000 common shares of Exploits Discovery Corp. in the transaction. Prior to closing of the transaction, the Company had beneficial ownership of, and control or direction over, 8,602,500 common shares representing 34.97% the then issued and outstanding common shares of Exploits Discovery Corp. The Company now has beneficial ownership of, and control or direction over, 13,602,500 common shares of Exploits Discovery Corp. representing 31.33% of the 43,411,302 issued and outstanding common shares. The Company, together with its joint actors, have beneficial ownership of, and control or direction over 14,630,000 common shares representing 33.70% of the issued and outstanding common shares. Michael Collins is the President, CEO and a director of the Company and the CEO and a director of Exploits Gold Corp., and was issued 175,000 common shares in the transaction to bring his total ownership to 595,000 common shares of Exploits Discovery Corp. Mr. Collins was also appointed the President, CEO and a director of Exploits Discovery Corp. Jason K. McLaughlin, a director of the Company, was issued 133,334 common shares, Bryce Clark, the CFO of the Company, was issued 75,000 common shares and Nicholas Rodway, the Vice President, Business Development of the Company, was issued 1,750,000 common shares. With the close of this transaction, Exploits Discovery Corp. now holds a strategic land position in discrete blocks along the full length of the Exploits Subzone. (For a map of the Exploits Subzone, please go to www.exploits.gold). Exploits Discovery Corp. is now the largest land tenure holder in Newfoundland with 1,760 km² of gold exploration ground. ...