Jonas Lauren Norr is Board Member at Crest Resources Inc. He has over 10 years of experience in the oil and gas industry as a geologist and project manager with expertise in exploration, development, and production. He has held senior positions at several independent oil companies, including Crest Resources Inc., Antrim Energy Inc., and Snipe Energy Inc. He holds a Bachelor’s degree in Geology from the University of Alberta, Canada.
- MOU with Ethos Real Assets
Crest Resources Inc. (CVE: CRX) signed a Memorandum of Understanding with Ethos Real Assets Management (ERAM), a leading Canadian-based independent oil and gas investment manager. The signing of the MOU is an important milestone for Crest Resources as it aims to raise CAD 1.5 billion in capital to expedite its development drilling program at its flagship asset, the South Pars/North Dome field in Iran.
- Board Appointment of Jonas Lauren Norr
The Company is pleased to announce that Jonas Lauren Norr has been appointed to the board of directors of Crest Resources Inc. Mr. Norr has invested in early-stage ventures for over 10 years and has worked in the oil and gas industry since 1995. He is currently a Board Member of Crest Resources Inc. and a Senior Advisor at Ethos Real Asset Management. As a Co-Founder and Managing Partner of Gravity Ranch Ventures, he primarily occupies himself with supporting deep technologies and has been involved with several high-tech startups. Before Gravity Ranch Ventures, Mr. Norr was the Managing Partner at Ethos Real Assets Management, a leading Canadian-based independent oil, and gas investment manager. He has also held senior positions at several independent oil companies, including Antrim Energy Inc. and Snipe Energy Inc.
- Investment in Ore Capital Partners Ltd
The Company has agreed to acquire a 36% interest in Ore Capital Partners Ltd. (“Ore”), a private investment holding company, from a consortium of investors who are owners of the Yabucoa Gold Project in Puerto Rico. Garry Stock, a director of the Company and also a director of Ore, is the key shareholder of Ore. The Company plans to use the net proceeds from this transaction for working capital and general corporate purposes.
- Sale of Investment in Mariner Resources Corp
The Company has entered into agreements to sell 1,038,300 common shares of Mariner Resources Corp. (“Mariner”) to a syndicate of underwriters. Mariner is an exploration company that holds a 100% interest in the Llanos Gold Project in Colombia. The Company will receive CAD 10,000 in cash proceeds from the sale of these shares. Crest Resources intends to use the net proceeds from this transaction for working capital purposes and general corporate purposes.
The Company has experienced considerable growth since its inception in 2014, and it is continuing to grow and expand. The company’s current expansion will continue to provide long-term value to shareholders.