Crescent Resources Corp.

Crescent Resources Corp.

August 11, 2005 15:35 ET

Crescent Resources Equity Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 11, 2005) - Crescent Resources Corp. (TSX VENTURE:CRC) announces a non-brokered private placement of up to 5,000,000 units at a price of $0.35 per unit for gross proceeds of up to $1,750,000. Each unit will consist of one common share and one common share purchase warrant, with each warrant entitling the subscriber to buy one additional common share in the capital of the Company at a price of $0.50 for the first year and $0.60 for the second year, for a period of two years from closing of the private placement. The Company may pay finder's fees allowable under the TSX Venture Exchange policies. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval.

Proceeds of this private placement will be used, together with funds on hand, for property costs, commencement of exploration and drilling on the Matupa Gold Project, Brazil, as well as general corporate purposes and the evaluation of other precious metals properties for possible acquisition.


Michael Hopley, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Crescent Resources Corp.
    Don Halliday
    Vice President Corporate Development
    (604) 899-1505
    (604) 899-9458 (FAX)