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Commerce Resources Corp (2)
Symbol CCE
Shares Issued 50,890,293
Close 2020-12-18 C$ 0.26
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Commerce Resources arranges $2.5M placement

2020-12-21 07:00 ET - News Release

Mr. Chris Grove reports

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

Commerce Resources Corp. has arranged a non-brokered private placement consisting of the issuance of up to 8,064,516 common shares issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of 31 cents per share for gross proceeds of up to $2.5-million. Insiders may participate in the offering.

The aggregate gross proceeds from the sale of the offering will be used to advance the development of the company's Ashram REE deposit in Quebec.

Finders' fees may be payable in connection with the offering in accordance with the policies of the TSX Venture 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 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 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/fluorspar deposit in Quebec and the Upper Fir tantalum-niobium deposit in British Columbia.

We seek Safe Harbor.

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