CREST RESOURCES ARRANGES 1:4 SHARE ROLLBACK

Crest Resources arranges 1:4 share rollback

2023-09-29 08:38 ET - News Release

Mr. Jason Cubitt reports

CREST ANNOUNCES SHARE CONSOLIDATION

Crest Resources Inc.'s board of directors has approved by board resolution consolidation of all of its issued and outstanding securities on a four-for-one basis pursuant to the policies of the Canadian Securities Exchange. Currently, the company's authorized share capital is an unlimited number of common shares without par value, of which 50,799,009 shares are issued and outstanding with a further 26,786,666 shares reserved for issuance upon the exercise of outstanding warrants and 3,133,333 shares reserved for issuance upon the exercise of outstanding options. Following consolidation and subject to rounding, Crest will have issued and outstanding 12,699,752 common shares, subject to shares being issued pursuant to outstanding warrants and options being exercised prior to the effective date of the consolidation. The board of directors believes that the share consolidation will provide the company with increased flexibility to seek financing opportunities and strategic acquisitions.

The company does not intend to undergo a name change in conjunction with the proposed consolidation.

About Crest Resources Inc.

The company's principal business activity is the acquisition, exploration and evaluation of mineral property assets in Canada and Australia and the investment in mineral exploration companies and related mining technologies of merit.

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