Early Warning News Release Issued Pursuant to NI 62-103 Acquisition of Common Shares of Origen Resources Inc.
CREST RESOURCES INC.
EARLY WARNING NEWS RELEASE ISSUED PURSUANT TO NI 62-103 ACQUISITION OF COMMON SHARES OF ORIGEN RESOURCES INC.
Vancouver, B.C. – January 12, 2023 – This news release is being disseminated by Crest Resources Inc. (CSE: CRES) (“Crest”) 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”.
On December 30, 2022 Crest acquired 66,000 Common Shares of the Issuer through the facilities of the CSE at a price of $0.179 per common share (the “Transaction”). This acquisition when combined with acquisitions of Common Shares of the Issuer acquired since November 14, 2022, being the date of the last early warning report filed by Crest with respect to the Issuer, exceeded 2% of the issued and outstanding Common Shares of the Issuer and triggered the requirement to file this report. This resulted in a change in Crest’s holdings in the Common Shares of the Issuer from 16.98% to 19.40%.
Prior to the Transaction, Crest owned and controlled 7,134,001 Common Shares representing 18.89% of the issued and outstanding Common Shares of the Issuer based on a total of 37,763,654 Common Shares outstanding as of November 10, 2022.
Subsequent to the Transaction, Crest owns and controls 7,323,501 Common Shares representing 19.40% of the issued and outstanding Common Shares of the Issuer based on a total of 37,763,654 Common Shares outstanding as of January 11, 2023.
The 66,000 Common Shares were acquired at a price of $0.179 for total consideration of $11,814.
Crest has acquired the Common Shares for investment purposes and in accordance with applicable securities laws. Crest 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 January 12, 2023 to be filed by Crest in connection with the disposition 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 Crest upon written request to Crest Resources Inc. at #142-757 West Hastings Street, Vancouver, BC V6C 1A1 Tel: 778 819 2709.
For additional information, contact:
Emma Fairhurst Chairperson & Director Crest Resources Inc.
778 819 2709