Commerce Resources Corp. Announces Closing of Final Tranche of Private Placement
CW14290683.1
Commerce Resources Corp. Announces Closing of Final Tranche of Private
Placement
November 5, 2019 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”)
announces that, further to its News Releases dated October 4, 2019 and October 11, 2019, it has closed
the final tranche (the “Final Tranche”) of the non-brokered private placement financing (the “Financing”)
of up to 11,538,461 units (each, a “ Unit”) at a price of $0.26 per Unit for gross proceeds of up to
$3,000,000. The Company has raised a total of $2,515,279.78 from the closing of the first tranche and
Final Tranche of the Financing.
The Final Tranche consisted of 646,153 Units of the Company at a price of $0.26 per Unit for gross
proceeds of $167,999.78. Each Unit consists of one common 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 $0.35 per Share for the first year, and $0.50 for the second year following
the closing of the Offering .
For the Final Tranche, the Company paid cash finder’s fees of $3,149.98 to certain finders.
All securities issued in the Final Tranche, and the Shares that may be issuable on exercise of the Warrants,
are subject to a statutory hold period expiring March 1, 2020.
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 eleme nts. 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
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.