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Dear Eric,
COMMERCE RESOURCES CORP. CLOSES $7.5 MILLION NON-BROKERED PRIVATE PLACEMENT
Commerce Resources Corp. (TSXv: CCE)(FSE: D7H)(OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to announce that it has closed its non-brokered private placement (the "Private Placement") of 10,388,834 common shares of the Company at a price of $0.73 per share for gross proceeds of $7.58 million.
The proceeds of the Private Placement will be used to advance the Company's exploration and development programs on its Blue River Tantalum and Niobium Project in British Columbia and its Eldor Rare Earth Project in Quebec, and for general working capital.
Securities issued pursuant to the Private Placement are subject to a four month hold period expiring October 4, 2011.
In connection with the completion of the Private Placement, the Company has paid a finder's fee in the amount of C$585,375 and 2,004,709 warrants. Each warrant is exercisable into one common share of the company at a price of $0.90 per share for a period of two years from the date of closing of the Private Placement.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
David Hodge
President and Director
Tel: 604.484.2700
TF: 866.484.2700
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Following your review, if you have any questions feel free to contact me at 604.484.2700 or toll free at 1.866.484.2700.
Sincerely,
Chris Grove
Corporate Communications
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Disclaimer: This email does not constitute investment advice. Commerce Resources Corp. provides investor relations materials for convenience and information only.
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Commerce Resources Corp. | Suite 1450 - 789 West Pender Street | Vancouver | BC | V6C 1H2 | Canada | |
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Commerce Resources Corp.
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EXPLORATION STAGE |
CODE : CCE.V |
ISIN : CA2006971006 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Commerce Resources is a silver and gold development stage company based in Canada. Commerce Resources holds various exploration projects in Canada. Its main exploration properties are ELDOR, BLUE RIVER - FIR, CARBOT, AU-WEN CLAIMS and CABLE CREEK in Canada. Commerce Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 32.3 millions as of today (US$ 23.8 millions, € 21.5 millions). Its stock quote reached its highest recent level on May 11, 2007 at CA$ 1.80, and its lowest recent point on August 16, 2019 at CA$ 0.04. Commerce Resources has 293 860 000 shares outstanding. |