Crescent Resources Corp.
TSX VENTURE : CRC

Crescent Resources Corp.

August 19, 2005 09:30 ET

Crescent Resources Increases Proposed Equity Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 19, 2005) - Crescent Resources Corp. (TSX VENTURE:CRC) increases its previously announced non-brokered private placement to up to 7,000,000 units at a price of $0.35 per unit for gross proceeds of up to $2,450,000. 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. (See news release dated August 11, 2005) 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.

CRESCENT RESOURCES CORP.

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