Crest Resources Inc. has arranged for the sale of seven million shares in Exploits Discovery Corp. held by Crest: 6,783,700 to entities associated with Eric Sprott and 216,300 to the market.
The sale of the shares to Mr. Sprott was carried out privately at current market prices.
Mr. Sprott, through 2176423 Ontario Ltd., has previously acquired a substantial equity position in Exploits. Acquiring additional shares from Crest will cement Mr. Sprott as a significant shareholder of Exploits going forward.
The sale by Crest is for strategic investment purposes, enabling Crest to enhance its investment portfolio and move current early-stage green economy projects to the forefront. Crest will continue to hold approximately 5.9 million shares of Exploits, as Crest believes in the opportunity with Exploits, its management team and the Exploits subzone in Newfoundland.
About Crest Resources Inc.
The company’s principal business activity is the creation, development and investment in mineral exploration companies and related mining technologies of merit; and the acquisition, exploration and evaluation of mineral property assets in Canada, Australia and Peru. The company’s assets include various land and corporate ownership positions within the Exploits subzone, the newest emerging district-scale gold exploration and mining district in the province of Newfoundland and Labrador; mineral recovery systems with 3RC/Ecomine/Gemina Labs; copper and gold exploration in the Toodoggone with Volatus Capital; and vanadium in Queensland, Australia, with AusVan Battery Metals.