Early Warning News Release - Exploits Discovery Corp.
CREST RESOURCES INC.
EARLY WARNING NEWS RELEASE ISSUED PURSUANT TO NI 62-103
DISPOSITION OF COMMON SHARES OF EXPLOITS DISCOVERY CORP.
Vancouver, B.C. – July 2, 2021 – This news release is being disseminated by Crest Resources Inc. (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 securityholding p ercentage 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 o wned 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 Acqui ror 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 respec t to the Securities, the whole depending on market conditions, the
business and prospects of the Issuer and other relevant factors.
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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