Vancouver, B.C. - TheNewswire - August 26, 2021 - This news release is being disseminated by Crest Resources Inc. (the “Acquiror”) (CNSX:CRES.CN) (OTC:CRSTF) 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 Volatus Capital Corp. (the “Issuer”), a British Columbia corporation whose common shares are listed for trading on the Canadian Securities Exchange under the symbol “VC”.  

On August 25, 2021, the Acquiror acquired 6,250,000 Common Shares at a deemed price of $0.12 per Common Share for total investment of $750,000 by way of a private placement.

This transaction represents an increase of 12.34% in the Acquiror’s securityholding percentage in the issued and outstanding Common Shares of the Issuer, or an increase of 13.20% in the Acquiror’s securityholding percentage of the deemed outstanding shares of the Issuer assuming exercise of the 500,000 warrants held by the Acquiror.

Prior to the Transaction, the Acquiror owned and controlled 10,715,667 Common Shares of the Issuer representing 24.14% of the then issued and outstanding Common Shares of the Issuer based on a total of 44,394,407 Common Shares outstanding as of August 24, 2021; or 11,215,667 Common Shares of the Issuer representing 24.99% of the outstanding shares assuming exercise of the 500,000 warrants held by the Acquiror.

Subsequent to the Transaction, the Acquiror owned and controlled 16,965,667 Common Shares of the Issuer representing 33.50% of the then issued and outstanding Common Shares of the Issuer based on a total of 50,644,407 Common Shares outstanding as of August 25, 2021; or 17,465,667 Common Shares of the Issuer representing 34.15% of the outstanding shares assuming exercise of the 500,000 warrants held by the Acquiror.

Emma Fairhurst (“Fairhurst”), Chairperson, interim Chief Executive Officer, Director and 10% holder of the Acquiror, is a joint actor of the Acquiror.

Prior to the Transaction, the Acquiror together with Fairhurst owned and controlled 18,710,667 Common Shares of the Issuer representing 42.15% of the then issued and outstanding Common Shares of the Issuer based on a total of 44,394,407 Common Shares outstanding as of August 24, 2021; or 19,210,667 Common Shares of the Issuer representing 42.79% of the outstanding shares assuming exercise of the 500,000 warrants held by the Acquiror.

(0.a)Subsequent to the Transaction, the Acquiror together with Fairhurst owned and controlled 24,960,667 Common Shares of the Issuer representing 49.29% of the then issued and outstanding Common Shares of the Issuer based on a total of 50,644,407 Common Shares outstanding as of August 25, 2021; or 25,460,667 Common Shares of the Issuer representing 49.79% of the outstanding shares assuming exercise of the 500,000 warrants held by the Acquiror.

(0.b)The Acquiror acquired 6,250,000 Common Shares at a price of $0.12 per Common Share for a total purchase price of $750,000 in connection with a private placement subscription 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 August 26, 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.  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.

For additional information, contact:

Christopher Huggins

President and COO

Crest Resources Inc.

778 819 2709