Commerce Resourc Stock Price, News & Analysis

Commerce Resources Corp. (TSXv:CCE)(FSE:D7H0) has successfully closed a non-brokered private placement, raising gross proceeds of $2,016,000 through the issuance of 16,000,000 units at $0.126 per unit. Each unit comprises one common share and one warrant, allowing the purchase of an additional share at $0.25 for two years.

The company paid $70,235 in cash finder's fees and issued 1,393,551 finder's warrants to Churchill SIG Pty for introducing non-Canadian investors. The net proceeds will fund the updated PEA for the Ashram REE/Fluorspar Deposit and general working capital. The securities are subject to a four-month hold period, and the offering involved related party transactions exempt from certain regulatory requirements.

Commerce Resources Corp. (TSXV:CCE, OTCQX:CMRZF) has appointed Ross Carroll as its new President and CEO, effective August 1, 2024. Carroll, with decades of experience in the resources sector, will also join the company's board. His appointment aims to drive the development of the Ashram Rare Earth and Fluorspar Project in Quebec, Canada, and explore the adjacent Eldor Niobium Project.

Carroll's extensive background includes leadership roles at BHP, Woodside Energy, Macmahon Holdings, and MMG . He holds a commerce degree from the University of Melbourne and is a Certified Public Accountant. The current President and CEO, Chris Grove, will transition to the role of Director of Corporate Development.

Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) has extended the deadline for its previously announced non-brokered private placement offering. The company aims to raise up to $2,016,000 by issuing 16,000,000 units at $0.126 per unit. Each unit includes one common share and one warrant, with the warrant allowing the purchase of an additional share at $0.25 for two years. The new deadline is August 26, 2024.

Churchill SIG Pty will act as the exclusive lead manager for a portion of the offering, receiving a 5% cash fee and 12.5% in finder's warrants for subscribers they introduce. The net proceeds will fund the completion of an updated PEA for the Ashram REE/Fluorspar Deposit and general working capital.

Commerce Resources has filed a technical report on SEDAR+ for the Ashram Rare Earth Element & Fluorspar Deposit in Quebec, Canada. The report, prepared in line with NI 43-101 standards, follows a May 22, 2024 announcement of an updated mineral resource estimate for Ashram featuring 73.2 Mt at 1.89% TREO and 6.6% CaF2 indicated, and 131.1 Mt at 1.91% TREO and 4.0% CaF2 inferred. Prepared by BBA Inc. with contributions from PLR Resources, DRA Global , and L3 Process Development, the report is now available on SEDAR+ and will soon be on the company’s website.

Commerce Resources has launched its summer diamond drilling program at the Eldor property in Nunavik, Quebec, targeting niobium deposits. The program aims to explore several high-priority targets identified from previous geological surveys and geophysical data. The drilling is expected to enhance the understanding of the mineralization and potentially expand the resource base. This initiative aligns with the company's strategic focus on advancing its niobium project, a critical mineral used in the aerospace, automotive, and energy sectors.

Commerce Resources Corp. has successfully closed a non-brokered private placement, raising $5,040,000 through the sale of 28,000,000 flow-through units at $0.18 each. Each unit includes one common share and one transferable warrant, which can be used to purchase an additional share at $0.25 within 24 months. The proceeds will fund exploration expenses for the Company's niobium targets in Nunavik, Quebec. Peartree Securities Inc. structured the offering, and Churchill SIG Pty facilitated investor introductions, receiving $162,890 and 3,231,945 finder's warrants. These warrants allow Churchill to buy additional shares at $0.20 over two years. All securities involved are subject to a four-month hold period.

Commerce Resources Corp. (OTCQX:CMRZF) announced the completion of the sale of its Blue River property in British Columbia. The assets sold include mineral claims and real property.

In return, Commerce Resources received 20,000,000 shares of the purchasing private company, valued at $0.05 per share. The company intends to distribute these shares to its shareholders pro rata.

Details about the transaction are available on SEDAR+.

Commerce Resources has announced a non-brokered private placement to issue up to 16,000,000 units at $0.126 per unit, targeting gross proceeds of $2,016,000. Each unit contains one common share and one warrant, with the warrant allowing the purchase of an additional share at $0.25 within two years. Churchill SIG Pty will act as the exclusive lead manager for a portion of the offering, earning a 5% cash fee and 12.5% in non-transferable share purchase warrants for their services. The net proceeds will be used for the updated PEA of the Ashram REE/Fluorspar Deposit and general working capital. All securities will have a statutory hold period of four months and one day, and the offering is subject to TSX Venture Exchange approval.

Commerce Resources Corp. has announced a non-brokered private placement offering of up to 27,777,777 charity flow-through shares at $0.18 per share, aiming to raise up to $5,000,000. Churchill SIG Pty will act as lead manager for this placement outside Canada. Churchill will receive a 5% cash fee and 10% in non-transferable share purchase warrants for funds raised. The raised funds will be used for exploring niobium targets in Nunavik, Quebec. The offering will close around June 18, 2024, subject to regulatory approvals. Insiders may participate, adhering to Multilateral Instrument 61-101 standards. The securities will have a hold period of four months and one day from closing.