05:06:31 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Commerce Resources Corp
Symbol CCE
Shares Issued 216,462,364
Close 2015-11-24 C$ 0.08
Market Cap C$ 17,316,989
Recent Sedar Documents

Commerce Resources arranges $2.53-million financing

2015-11-24 19:09 ET - News Release

Mr. Chris Grove reports

COMMERCE RESOURCES CORP. ANNOUNCES NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT

Commerce Resources Corp. has arranged a non-brokered flow-through private placement for up to 23 million flow-through eligible common shares at a price of 11 cents per common share for gross proceeds of up to $2.53-million.

This news release amends and replaces the previous news release dated Sept. 2, 2015, where the company announced a private placement of 13,636,364 flow-through common shares of the company on a brokered private placement basis at a price of 11 cents per flow-through share for gross proceeds of up to $1.5-million.

The company intends to use the net proceeds from the private placement to incur qualified exploration expenditures on its Ashram rare-earth-element deposit in Quebec.

Finders' fees equal to 6 per cent in cash and 6 per cent in finder warrants may be issuable in connection with this private placement. The finders' warrants will be exercisable at 11 cents per common share for a period of 24 months from closing.

The private placement and the payment of finders' fees are subject to approval of the TSX Venture Exchange.

We seek Safe Harbor.

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