Early Warning News Release Issued Pursuant to NI 62-103 Acquisition of Common Shares of Origen Resources Inc.
Vancouver, March 7, 2022 - This news release is being disseminated by Crest Resources Inc. (CSE:CRES) (CNSX:CRES.CN) (OTC:CRSTF) (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 acquisition of certain common shares (the "Common Shares") of Origen Resources Inc. (the "Issuer"), a British Columbia corporation whose common shares are listed for trading on the Canadian Securities Exchange under the symbol "ORGN" (CSE:ORGN). On March 7, 2022 the Acquiror acquired 2,000,000 Common Shares of the Issuer through the facilities of the Canadian Securities Exchange at a price of $0.20 per Common Share (the "Transaction"). This resulted in a change in the Acquiror's holdings in the Common Shares of the Issuer from 21.66% to 27.37%.
Prior to the Transaction, the Acquiror owned and controlled 7,593,476 Common Shares representing 21.66% of the issued and outstanding Common Shares of the Issuer. Subsequent to the Transaction, the Acquiror owned and controlled 9,593,476 Common Shares and representing 27.37% of the issued and outstanding Common Shares of the Issuer based on a total of 35,057,488 Common Shares outstanding as of March 7, 2022.
The 2,000,000 Common Shares were acquired at a price of $0.20 per Common Share for consideration of $400,000.
The Acquiror has acquired the Common Shares for investment purposes and in accordance with applicable securities laws. The Acquiror 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 respect to the Securities, the whole depending on market conditions, the business and prospects of the Issuer and other relevant factors.
A copy of the early warning report dated March 7, 2022 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:
Emma Fairhurst
Chairperson and interim CEO
778 819 2709
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