Commerce Resources Corp. Announces $2,000,000 Private Placement
CW16619715.1
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Commerce Resources Corp. Announces $2,000,000 Private Placement
April 21 , 202 1 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H 0) (the “ Company” or
“Commerce”) is pleased to announce a non -brokered private placement consisting of the
issuance of up to 6,060,606 units (each, a “ Unit”) at a price of $0 .33 per Unit for gross proceeds
of up to $ 2,000,000 (the “ Offering”). Each Unit will consist of one com mon share of the
Company (each, a “Share”) and one common share purchase warrant (each, a “ Warrant”), with
each Warrant entitling the holder to purchase one Share at a price of $0.44 per Share for a period
of five years from closing of the Offering (the “ Closing”). Insiders may participate in the
Offering.
A portion or all of the Offering may be completed pursuant to Multilateral Notice 45 -313 –
Prospectus Exemption for Distributions to Existing Security Holders and the corresponding
blanket orders and rules in the participating jurisdictions (the “ Existing Security Holder
Exemption”). The Company has set April 20, 2021 as the record date for the purpose of
determining shareholders entitled to participate in the Offering in reliance on the Existing
Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should
contact the Company at the contact information set forth below. In the event that aggregate
subscriptions for Units under the Offering exceed the maximum number of securities to be
distributed, then Units will be sold to qualifying subscribers on a pro rata basis based on the
number of Units subscribed for. In addition to conducting the Offering pursuant to the Existing
Shareholder Exemption, the Offering will also be conducted pursuant to other available
prospectus exemptions.
Finders’ fees may be payable in connection with the Offering in accordance with the policies of
the TSX Venture Exchange (the “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 relat ed party transaction under Multilateral Instrument 61 -101 - Protection of
Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from
the formal valuation and minority shareholder approval requirements of MI 61-101.
The aggregate gross proceeds from the sale of the Offering will be used to advance the
developments of the Ashram REE/ Fluorspar Deposit and for general working capital.
CW16619715.1
None of the securities sold in connection with the Offering will be registered under t he United
States Securities Act of 1933, as amended, and no such securities may be offered or sold in the
United States absent registration or an applicable exemption from the registration requirements.
This news release shall not constitute an offer to se ll or the solicitation of an offer to buy nor
shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
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 Deposit in Quebec and the Upper Fir Tantalum-
Niobium Deposit in British Columbia.
For more information, please visit the corporate website at www.commerceresources.com or
email [email protected].
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
“Chris Grove”
Chris Grove
President and Director
Tel: 604.484.2700
Email: [email protected]
Web: http://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.
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain “forward -looking statements” under applicable Canadian securities legislation
that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could
cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied
by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to,
statements with respect to the expectations of management regarding the proposed Offering, the expectations of
management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold
periods for securities distributed pursuant to the Offering, and Exchange approval of the proposed Offering.
Although the Company believes that the expectations reflected in the forward -looking information are reasonable,
there can be no assurance that such expectations will prove to be correct. Such forward -looking statements are
subject to risks and uncertainties that may cause actual results, performance or developments to differ materially
from those contained in the sta tements including that: the Company may not complete the Offering on terms
favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not
be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and
CW16619715.1
those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the
Company believes that the assumptions and factors used in preparing the forward -looking sta tements are
reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except
where required b y law, the Company disclaims any intention or obligation to update or revise any forward -looking
statement, whether as a result of new information, future events, or otherwise.