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Pacific Coal Resources Ltd. New VGGGD



GREY:VGGGD - Post by User

Post by cantkillmeon Mar 30, 2011 6:05pm
260 Views
Post# 18363607

NEWS out-Financing Closed

NEWS out-Financing ClosedGlobeinvestorGOLD.com Company News Alert for Crescent Resources
========================
Crescent Resources Closes Equity Financing






VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2011) -
Crescent Resources Corp.
(TSX VENTURE:
CRC) ("Crescent" or the "Company") announces that ithas closed a non-brokered private placement of 10,000,000 units at aprice of
.35 per unit for gross proceeds of $3,500,000. Each unitconsists of one common share and one-half of one common share purchasewarrant, with each whole warrant entitling the subscriber to purchaseone additional common share in the capital of the Company at a price of
.50 until March 30, 2013. Finder's fees were paid in the form of$110,034 in cash and 314,382 non-transferable finder's warrants on thesame terms as the private placement. The common shares issued, and anycommon shares issued pursuant to the exercise of share purchase warrantsor finder's warrants prior to July 31, 2011 are restricted from tradinguntil July 31, 2011.


The proceeds of thefinancing will be used to fund the 2011 exploration and drillingprograms on the Company's Uncle Sam Gold Project in Alaska, as well asgeneral corporate purposes.



About Crescent Resources Corp.



CrescentResources is a resource exploration company focused on the explorationof the Uncle Sam Gold Project in Alaska. Management will also continueto review other opportunities in the resource sector. The Company has27.6 million shares outstanding thereby providing its shareholdersstrong leverage to a successful exploration and drilling program.


CRESCENT RESOURCES CORP.

Don Halliday

President and Chief Executive Officer




FOR FURTHER INFORMATION PLEASE CONTACT: Don Halliday
Crescent Resources Corp.
604-899-1505 (direct)
info@crescentresourcescorp.com
www.crescentresourcescorp.com

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