Commerce Resources Corp. Announces First Tranche Closing of Short-Form Prospectus Offering
Vancouver, British Columbia (FSCwire) - Commerce Resources Corp. (TSXv: CCE; FSE: D7H, OTCQX: CMRZF) (the “Company” or “Commerce”) is pleased to announce that it has closed the first tranche of its previously announced short-form prospectus offering, raising gross proceeds of $1,169,899.88 for the Company. Secutor Capital Management Corporation (the “Agent”) acted as Agent for the Company with respect to the sale of 15,598,665 units (“Units”) of Commerce at a price of $0.075 per Unit (the “Unit Offering”).
Each Unit consists of one common share of Commerce and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one common share of Commerce for a price of $0.10 per common share until 4:30 pm (Vancouver time) on June 30, 2018.
The Agents were paid a cash commission of $78,255.49 in connection with the Unit Offering and received an aggregate of 1,043,407 broker warrants to acquire up to 1,043,407 common shares at a price of $0.075 per common share until June 30, 2018.
This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy, securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Commerce Resources Corp.
Commerce 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 Blue River Tantalum-Niobium Deposit in British Columbia.
For more information on Commerce Resources Corp., visit the corporate website at http://www.commerceresources.com or email info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
“Chris Grove”
Chris Grove
President and Director
Tel: 604 484 2700
Email: info@commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/commerce06302016_0.pdf
Source: Commerce Resources Corp. (TSX Venture:CCE, OTCQX:CMRZF, FWB:D7H) http://www.commerceresources.com/en
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