Commerce Resources Corp. Share Consolidation
Commerce Resources Corp. Share Consolidation
July 29, 2019 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or
“Commerce”) plans to complete a consolidation of its issued and outstanding common shares
(the “Common Shares”) on the basis of one new common share (a “Consolidated Common
Share”) for every ten currently-outstanding Common Shares (the “Share Consolidation”).
It is anticipated that the Share Consolidation will reduce the number of outstanding shares of the
Company from 310,496,558 Common Shares to approximately 31,049,655 Consolidated
Common Shares. The Board of Directors of the Company believes that the consolidation of the
Common Shares will both enhance the marketability of the Company as an investment and better
position the Company to raise the funds necessary to execute the Company’s business plan. The
Share Consolidation is subject to approval by the TSX Venture Exchange (the “TSX-V”).
The Company does not intend to change its name or its current trading symbol in connection
with the proposed Share Consolidation. The effective date of the Share Consolidation will be
announced in a subsequent news release, anticipated within a few weeks.
No fractional Consolidated Common Shares will be issued as a result of the Share Consolidation.
Shareholders who would otherwise be entitled to receive a fraction of a Consolidated Common
Share will be rounded down to the nearest whole number of Consolidated Common Shares and
no cash consideration will be paid in respect of fractional shares.
The exercise price and number of Common Shares of the Company, issuable upon the exercise
of outstanding options and warrants, will be proportionally adjusted upon the implementation of
the proposed Share Consolidation in accordance with the terms thereof.
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 i ts 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.
Forward Looking Statements
This news release contains forward -looking information which is subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ from those projected in the forward -looking statements. Forward looking
statements in this press release include that we will consolidate our share capital. These forward-looking statements are subject to
a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from t hose
projected in the forward -looking information. Risks that could change or prevent these statements from coming to fruition
include that we may not obtain regulatory approval for the consolidation . The forward -looking information contained herein is
given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events
or circumstances, except as required by law.