Commerce Resources Corp. Announces Closing of Flow-through Non-brokered Private Placement
Commerce Resources Corp. has completed a non-brokered private placement, issuing 8,641,429 common shares at $0.28 each, generating total gross proceeds of $2,419,600.
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Rhea-AI Summary
Commerce Resources Corp. has completed a non-brokered private placement, issuing 8,641,429 common shares at $0.28 each, generating total gross proceeds of $2,419,600. The funds will be directed towards the advancement of the Ashram REE Deposit in Quebec. In relation to the offering, the company paid a finder's fee of $126,500. The securities are subject to a statutory hold period lasting four months and one day from the closing date.
Positive
- Raised $2,419,600 for the development of the Ashram REE Deposit.
- Successful completion of a significant non-brokered private placement.
Negative
- Finder's fees of $126,500 may impact net proceeds.
Details
News Market Reaction – CMRZF
The recorded move for CMRZF in the trading session of this news was +11.76%.
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VANCOUVER, BC / ACCESSWIRE / December 21, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0) (the "Company" or "Commerce") is pleased to announce that, further to its News Release of December 15, 2021, it has completed a non-brokered private placement, pursuant to which it has issued an aggregate of 8,641,429 common shares (each, a "Share") issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) at a price of
The aggregate gross proceeds from the sale of the Offering will be used to advance the developments of the Company's Ashram REE Deposit in Quebec.
In connection with the closing of the Offering, the Company paid cash finder's fees of
The securities issued under the Offering are subject to a statutory hold period expiring four months and one day from the date of closing.
About Commerce Resources Corp.
Commerce Resources Corp. 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.
For more information, please visit the corporate website at www.commerceresources.comor email info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: https://www.commerceresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Commerce Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/679019/Commerce-Resources-Corp-Announces-Closing-of-Flow-through-Non-brokered-Private-Placement
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