14:24:36 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Commerce Resources Corp
Symbol CCE
Shares Issued 309,589,908
Close 2017-11-17 C$ 0.09
Market Cap C$ 27,863,092
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Commerce Resources receives LEI number

2017-11-17 06:25 ET - News Release

Mr. Chris Grove reports

COMMERCE RESOURCES CORP. ANNOUNCES LEI NUMBER

Commerce Resources Corp. has been assigned the legal entity identifier (LEI) No. 529900D756K6RCKHZ250. The European Union has adopted regulations that require use of the LEI as a bar code equivalent aimed at pinpointing systemic risks.

About the legal entity identifier (LEI)

The legal entity identifier (LEI) number is a 20-digit alphanumeric code. It is an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting parties (that is, companies, banks and investment funds). It is used to comply with a variety of financial reporting requirements. The Deutsche Borse Group has stated that "the LEI will clearly assist the regulatory authorities in monitoring and analyzing threats to the stability of the financial markets, (but) it can also be utilized by counterparties internally for risk management purposes."

Commerce Resources meets the requirement for all companies listed on German Stock Exchanges (that is, Frankfurt Stock Exchange) to have an LEI number by Jan. 3, 2018.

According to the website of the Deutsche Borse Group, the LEI number will affect most aspects of the securities markets in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data, and indices.

About Commerce Resources Corp.

Commerce Resources 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 and niobium deposit in British Columbia.

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