10:57:55 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Commerce Resources Corp
Symbol CCE
Shares Issued 310,496,558
Close 2019-07-29 C$ 0.055
Market Cap C$ 17,077,311
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Commerce Resources plans 1:10 share rollback

2019-07-29 06:32 ET - News Release

Mr. Chris Grove reports

COMMERCE RESOURCES CORP. SHARE CONSOLIDATION

Commerce Resources Corp. plans to complete a consolidation of its issued and outstanding common shares on the basis of one new common share for every 10 currently outstanding common shares.

It is anticipated that the share consolidation will reduce the number of outstanding shares of the company from 310,496,558 common shares to approximately 31,049,655 consolidated common shares. The board of directors of the company believes that the consolidation of the common shares will both enhance the marketability of the company as an investment and better position the company to raise the funds necessary to execute the company's business plan. The share consolidation is subject to approval by the TSX Venture Exchange.

The company does not intend to change its name or its current trading symbol in connection with the proposed share consolidation. The effective date of the share consolidation will be announced in a subsequent news release, anticipated within a few weeks.

No fractional consolidated common shares will be issued as a result of the share consolidation. Shareholders who would otherwise be entitled to receive a fraction of a consolidated common share will be rounded down to the nearest whole number of consolidated common shares and no cash consideration will be paid in respect of fractional shares.

The exercise price and number of common shares of the company, issuable upon the exercise of outstanding options and warrants, will be proportionally adjusted upon the implementation of the proposed share consolidation in accordance with the terms thereof.

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-niobium deposit in British Columbia.

We seek Safe Harbor.

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