Crest Resources Inc. (CNSX:CRES) entered into a Letter of Intent to acquire a 69.5% stake in Mount Hutton and a 80% stake in Leigh Creek project for CAD 9.3 million on June 2, 2022. Under the terms, Crest Resources will pay CAD 1 million upon the execution of a Letter of Intent, which is 50% refundable in the event the Parties fail to execute legally binding documentation (a ?Definitive Agreement?) within a period of 60-days from receipt of shareholder approval, will issue 20 million shares in Crest, and one-time payment of CAD 7.5 million, contingent upon Mount Hutton and Leigh Creek Projects receiving a Positive Feasibility Study and a net-smelter-royalty (?NSR?) of up to 2% such that the overall percentage of this NSR, and any potential pre-existing NSR, totals a maximum of 3%. The transaction is subject to Crest's shareholders approval.

Crest Resources Inc. (CNSX:CRES) completed the acquisition of 69.5% stake in Mount Hutton and a 80% stake in Leigh Creek project on June 19, 2024.