Crest Resources (TSE:CRES) has released an update.
Crest Resources Inc. has successfully completed the acquisition of the Leigh Creek Magnesite Project in South Australia, taking over 100% control and aiming to re-activate the project for enhanced value. The project spans two exploration licenses across 664 square kilometers, with promising magnesite mineralization. As part of the deal, Crest is issuing a total of 5 million common shares to the stakeholders of the project, subject to regulatory hold periods and conditions.
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