Post by
stockzorg on Jun 03, 2021 7:25pm
Now we'll see if Mr. Sprott has any guts
Anyone who owns stock and feels their management teams are not intelligent or ethical (or both) should read this dumpster fire of a news release from Crest Resources:
https://www.thenewswire.com/press-releases/1AlpFdWOx-crest-announces-distribution-of-bonus-shares-instead-of-rsu-plan.html
Mr. Sprott does not show any positions in sedi.ca for Crest Resources, but does show a position in Exploits Discovery (NFLD.CN, NFLDF on the OTC). That position is 10,666,667 shares at $.50 - $.60 and 10,666,667 warrants at $.67 - $.70.
Exploits Discovery shares a CEO with Crest. Crest and Exploits also announced a syndicate staking agreement today covering an area known as PB HIll:
https://exploitsdiscovery.com/crest-exploits-syndicate-stake-pb-hill-gold-claims-in-the-exploits-subzone-newfoundland/
Further, on September 18, 2020 Crest announced the sale of claims to Exploits Discovery. At that time several share grants in Exploits Discovery were made to various management personnel. The "bonus" shares granted June 2, 2021 are based on the "performance" of the company's investments. These investments were not exactly performing (in fact they were underwater) until Mr. Sprott made his investment in Exploits Discovery on April 30, 2021.
Both Crest and Exploits Discovery shares tanked today on these news items. In my opinion it's unlikely that any action will be taken by the exchanges or regulators involved (either in Canada or the USA). But Mr. Sprott has consistently represented himself as a pro-investor advocate when it comes to subjects such as short sales, etc.
It will be interesting to see if he just sits back on this one.
GLTA. Doug