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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2011) - Crescent Resources Corp. (TSX VENTURE:CRC) ("Crescent" or the "Company") announces that it has closed a non-brokered private placement of 10,000,000 units at a price of $0.35 per unit for gross proceeds of $3,500,000. Each unit consists 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 $0.50 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 the same terms as the private placement. The common shares issued, and any common shares issued pursuant to the exercise of share purchase warrants or finder's warrants prior to July 31, 2011 are restricted from trading until July 31, 2 |
