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Crestview Exploration Inc. (CSE: CRS) (FSE: CE7) ("Crestview" or "the Company") announces that on October 3, 2025 the common shares of Crestview Exploration Ltd. will commence trading on the Canadian Securities Exchange on a consolidated basis of 1 post-consolidation share for every 10 pre-consolidation shares ("Consolidation"). Concurrent with the Consolidation, the Company is also changing its name to Gold Runner Exploration Inc. ("Name Change") and new trading symbol of "GRUN" has been confirmed and will be used by the Company going forward.
Prior to the Consolidation, the Company had 36,851,748 common shares issued and outstanding. Following the Consolidation, the Company will have approximately 3,685,174 common shares issued and outstanding.
No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded to the nearest whole number and no cash consideration will be paid in respect of fractional shares. The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms.
A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their shares for replacement certificates representing the number of post-consolidation shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing common shares prior to the Consolidation will be deemed for all purposes to represent the number of common shares to which the holder is entitled as a result of the Consolidation.
The board of directors believes that the Consolidation and Name Change are necessary to better position the Company for future corporate development opportunities and financing of transactions and operations. The Consolidation and Name Change were approved by a special majority of shareholders at the Company's annual general and special meeting of shareholders held on July 14, 2025.
The Canadian Securities Exchange has approved the above Consolidation, Name Change, and new trading symbol.
On Behalf of the Board of Directors,
"Chris Wensley"
Chris Wensley, Director
About Crestview Exploration Inc:
Crestview Exploration is an experienced exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Nevada.
Rock Creek gold project is Crestview's flagship asset, with 74 unpatented lode mining claims wholly owned and controlled by the Company. The Rock Creek property was acquired in 2017, and the company went public in 2019. Emboldened by the results coming out of Rock Creek, Crestview strategically expanded on the land position with the acquisition of the nearby Divide Mine prospect in April 2020, and the acquisition of the Falcon silver-gold prospect in September 2022. Between the three properties, all targeting similar mineralization and likely the same hydrothermal system, Crestview now holds 260 total claims in close proximity of one another. These three gold prospects, along with the nearby Castile prospect, are situated in a region with proven "world class" gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle, and Gold Quarry), where the potential of finding large, high-grade gold-silver deposits is favourable.
The Cimarron project is located in the San Antonio Mountains of Nye County, Nevada, and is comprised of 31 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine. The property is located in the prolific Walker-Lane trend, approximately 44 kms south of the "world class" Round Mountain deposit.
For further information please contact:
Chris Wensley, Chief Executive Officer
Email: info@crestviewexploration.com
Forward-Looking Information
This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, including but not limited to those that address acquisition of any properties and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company's due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedarplus.ca. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268098
