CRES Closes Private Placement
CREST RESOURCES INC.
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NEWS RELEASE
CREST RESOURCES CLOSES PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, B.C. – July 28, 2020 ‐ Crest Resources Inc. (“Crest” or the “Company”) (CSE: CRES) is pleased
to announce that the Company has closed a non-brokered private placement (the “Offering”) to raise
gross proceeds of $ 689,500 through the sale of 6,895,000 common shares priced at $0.10 per common
share. All securities issued are subject to a four month hold period expiring November 29, 2020.
Finder’s fees of 6% cash ($15,000) was paid to registered representatives on $250,000 of the Offering.
The proceeds from the Offering will be used for project development and acquisition and general working
capital.
The following individuals participated in the Offering: Michael Collins, the President, Chief Executive
Officer and a director of the Company , for a total of 300,000 common shares; 1253070 B.C. Ltd., a
company owned by Garry Stock, a director of the Company, for a total of 350,000 common shares; Bryce
A. Clark & Associates, a company owned by Bryce A. Clark, the Chief Financial Officer of the Company, for
a total of 100,000 common shares; and Nicholas Rodway, the Vice President of Business Development of
the Company, for a total of 195,000 common shares. This participation constitutes a “relat ed party
transaction” for the purposes of Multilateral Instrument 61 -101, Protection of Minority Security Holders
in Special Transactions (“MI 61-101”). The Company is relying upon exemptions from the requirement to
obtain a formal valuation and seek mino rity shareholder approval for the Offering on the basis that the
fair market value of the participation by related parties in the Offering is less than 25% of the Company’s
current market capitalization.
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 investme nt in mineral exploration
companies and related mining technologies of merit. The Company’s Canadian mineral property assets
include various land positions totalling 665.75 km2 (66,575 hectares) within the Exploits Subzone, the
newest emerging district-scale gold exploration and mining district in the province of Newfoundland and
Labrador.
FOR FURTHER INFORMATION CONTACT:
Michael Collins
President and Chief Executive Officer
Crest Resources Inc.
Telephone: 604-681-3170
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and
accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance
(including, but not limited to, the overall size of the Offering, the proposed use of proceeds and the expected closing
of any further tranches thereof) 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 f inancing, 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.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FO R DISTRIBUTION TO U.S. NEWS
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL
SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR
ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS
UNLESS REGISTERED OR EXEMPT THEREFROM.