Crescent Resources Corp.
TSX VENTURE : CRC

Crescent Resources Corp.

November 09, 2006 18:42 ET

Crescent Resources Increases Proposed Equity Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 9, 2006) - Crescent Resources Corp. (TSX VENTURE:CRC) increases its non-brokered private placement previously announced on November 3, 2006 to up to 7,500,000 units at a price of $0.50 per unit for gross proceeds of up to $3.75 million. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the subscriber to purchase one additional common share in the capital of the Company at a price of $0.75 for a period of one year from closing of the private placement. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval.

Proceeds of this private placement will be primarily used for property costs and commencement of exploration and drilling on the Oviedo Uranium Property as well as general corporate purposes and the evaluation of other properties for possible acquisition.

CRESCENT RESOURCES CORP.

Michael Hopley, President and Chief Executive Officer


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