Commerce Resources Corp. Announces Private Placement

CW10766503.1

Commerce Resources Corp. Announces Private Placement

NOT FOR DISTRIBUTION TO U NITED STATES NEWSWIRE SERVICES OR FOR RELEASE,

PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE

OR IN PART, IN OR INTO THE UNITED STATES.

April 21, 2017 - Commerce Resources Corp. (TSXv: CCE; FSE: D7H) (the “Company”) is

pleased to announce that, subject to regulatory approval, it has arranged a non-brokered private

placement financing (the “Offering”) of up to 16,666,667 units (each, a “Unit”) at a price of

$0.06 per Unit. Each Unit consists of one common share of the Company (each, a “Share”) and

one share purchase warrant (each, a “Warrant”). One Warrant entitles the holder thereof to

purchase one additional Share of the Company at a price of $0.075 per Share in the first year

after issuance and at $0.10 per Share in the second year after issuance.

Closing of the Offering remains subject to final acceptance of the TSX Venture Exchange. The

Company may pay finder’s fees in connection with the issuance of the Units under the Offering.

The Shares, the Warrants and the Shares issuable on exercise of the Warrants will be subject to a

statutory hold period expiring on the date that is four months and one day after closing of the

Offering. The Offering may be considered a related party transaction pursuant to applicable

securities laws due to the fact that certain insiders of the Company may participate in the

Offering.

The proceeds of the Financing will be used for working capital.

None of the securities issued in connection with the financing will be registered under the United

States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or

sold in the United States absent registration or an applicable exemption from the registration

requirements of the 1933 Act. This press release shall not constitute an offer to sell or a

solicitation of an offer to buy nor shall there be any sale of the securities in any state where such

offer, solicitation, or sale would be unlawful.

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 [email protected].

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CW10766503.1

On Behalf of the Board of Directors

COMMERCE RESOURCES CORP.

Chris Grove

President and Director

Tel: 604.484.2700

TF: 866.484.2700

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.  

Disclaimer  for  Forward-­‐Looking  Information  

Certain   statements   in   this   press   release   related   to   the   Offering   and   the  securities   issuable   thereunder   are   forwardlooking  

statements  and  are  prospective  in  nature.  Forward-­‐looking  statements  are  not  based  on  historical  facts,  but  rather  on  current  

expectations  and  projections  about  future  events,  and  are  therefore  subject  to  risks  and  uncertainties  which  could  cause  actual  

results  to  differ  materially  from  the  future  results  expressed  or  implied  by  the  forward-­‐looking  statements.  These  statements  

generally  can  be  identified  by  the  use  of  forward-­‐looking  words  such  as  “may”,  “should”,  “will”,  “could”,  “intend”,  “estimate”,  

“plan”,   “anticipate”,   “expect”,   “believe”   or   “continue”,   or  the   negative   thereof   or   similar   variations.   Forward -­‐looking  

statements   in   this   news   release   include   statements  regarding   the   proceeds   to   be   raised  pursuant   to   the   Offering,   resale  

restrictions   relating   to   the   securities   to   be   issued,  the   use   of   proceeds   of   Offering  and   receipt   of  the   approval   of   the   TSX  

Venture   Exchange.   Such   statements   are   qualified   in   their   entirety   by   the   inherent   risks   and  uncertainties   surrounding   the  

Company’s  ability  to  complete  the  Offering,  including  the  risk  that  the  Offering  may  not  be  completed  as  expected  or  at  all,  that  

the  proceeds  of  the  Offering  may  be  used  other  than  as  set  out  in  this  news  release,  that  the  TSX  Venture  Exchange  may  not  

approve   the   Offering   and   such   other   factors   beyond   the  control   of   the   Company.   Such   forward-­‐looking   statements   should  

therefore   be   construed   in   light   of   such   factors,   and  the   Company   is   not   under   any   obligation,   and   expressly   disclaims  any  

intention   or   obligation,   to   update   or   revise  any   forward-­‐looking   statements,   whether   as   a   result   of   new   information,   future  

events  or  otherwise.