Vancouver, BC October 1st 2013 - Crest Petroleum Corp. (CTP.P - TSX Venture). Crest Petroleum Corp. ("Crest" or the "Company") is pleased to announce that it will conduct a non-brokered private placement (the "Offering") of up to 5,000,000 common shares of Crest at a price of $0.05 per share for aggregate gross proceeds of up to $250,000. The Company anticipates that some current insiders of Crest will participate in the Offering.
Proceeds of this Offering will be used for advancing the identification of a qualifying transaction and to give the company a larger cash reserve to increase its flexibility in considering various qualifying transaction opportunities.
Shares acquired by the placees will be subject to a hold period of four months plus one day from the date of completion of the financing, in accordance with applicable securities legislation.
About Crest Petroleum Corp.:
Crest Petroleum Corp. (CTP.P – TSX Venture) is a Capital Pool Company ("CPC") within the meaning of the TSX Venture Exchange (the "Exchange"). The Company based in Vancouver, BC is currently focused on identifying and evaluating businesses and assets with a view to completing a “Qualifying Transaction” under the Exchange’s CPC policies and currently has no assets other than cash.
On behalf of the Board of Directors,
Email: firstname.lastname@example.org or Telephone: +44 751 713 1747.
For further information about Crest Petroleum Corp. or this news release, please visit our website at http://www.crestpetroleum.com/ or review the Company’s documentation filed on SEDAR at http://www.sedar.com/
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
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