Crest Resources (TSE:CRES) has released an update.
Crest Resources Inc. has announced a strategic share acquisition, purchasing 8 million shares of Rain City Resources Inc. at $0.09 each, amounting to $720,000. This deal involves a share exchange with 1459988 BC Ltd., a control person of both companies, and is pending approval by the CSE. Notably, the transaction, which includes issuing 14.4 million Crest shares to 1459988 BC Ltd., is a related party transaction with exemptions from certain minority shareholder protections.
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