Early Warning News Release Issued Pursuant to NI 62-103 Acquisition of Common Shares of Cayenne Capital Corp.
Vancouver, May 19, 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 acquisition of certain common shares (the "Common Shares") of Cayenne Capital Corp. (the "Issuer"), a British Columbia corporation. On May 18, 2021, the Acquiror acquired 5,500,000 Common Shares of the Issuer at a deemed price of $0.05 per Common Share. The Common Shares were issued pursuant to an assignment agreement entered into between the Issuer and the Acquiror (the "Transaction"). This Transaction represents 27.90% in the Acquiror's security holding percentage in the issued and outstanding Common Shares of the Issuer.
The Acquiror owns and controls 5,500,000 Common Shares of the Issuer representing 27.90% of the outstanding shares of the Issuer pursuant to the Transaction. The 5,500,000 Common Shares issued to the Acquiror were acquired in connection with an assignment agreement at a deemed price of $0.05 per Common Share for total consideration of $275,000. The Common Shares were acquired as partial consideration for the assignment by the Acquiror to the Issuer of the Acquiror's rights under a property option agreement.
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 May 19, 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. A copy of the report will also be available from the Acquiror upon written request to Crest Resources Inc. at #3043, 595 Burrard Street, Vancouver, BC V7X 1J1.
For additional information, contact:
Michael Collins, President and CEO
Crest Resources Inc.
604-681-3170