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Commerce Resources Corp. Announces Flow-through Private Placement

by pnationtalk on August 13, 20199 Views

August12, 2019 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”) is pleased to announce a non-brokered private placement consisting of the issuance of up to 7,272,727 units (each, a “Unit”) at a price of $0.055 per Unit for gross proceeds of up to $400,000 (the “Offering”).Insiders may participate in the Offering.

The aggregate gross proceeds from the sale of the Offering will be used to advance the developments of the Company’s Ashram REE Deposit in Quebec.

Each Unit will consist of one common share of the Company issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) (each, a “Share”) and one common share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one Share (on a non-flow-through basis) at a price of $0.075 per Share for a period of one year following the closing of the Offering (the “Closing”).

Finders’ fees may be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange (the “Exchange”).

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

About Commerce Resources Corp.

Commerce Resources Corp. is an exploration and development company with a particular focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Ashram Rare Earth Element Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit in British Columbia.

For more information, please visit the corporate website at www.commerceresources.comor email info@commerceresources.com.

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

“Chris Grove”
Chris Grove

President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

NT4

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