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Commerce Resources Corp (2)
Symbol CCE
Shares Issued 50,890,293
Close 2020-12-24 C$ 0.26
Recent Sedar Documents

Commerce Resources closes $1.94M tranche 1 of placement

2020-12-28 22:20 ET - News Release

Mr. Chris Grove reports

COMMERCE RESOURCES CORP. ANNOUNCES CLOSING OF FIRST TRANCHE OF FLOW-THROUGH NON-BROKERED PRIVATE PLACEMENT

Further to the news release of Dec. 21, 2020, Commerce Resources Corp. has completed a first tranche of the non-brokered private placement, pursuant to which it has issued an aggregate of 6,279,838 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 $1,946,749.79. The company intends on closing a second tranche by Dec. 31, 2020.

The aggregate gross proceeds from the sale of the offering will be used to advance the developments of the company's Ashram rare earth element deposit in Quebec.

In connection with the closing of the first tranche, the company paid cash finders' fees of $30,000 to one finder.

The securities issued under the first tranche are subject to a statutory hold period expiring four months and one day from the date of closing.

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.

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