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Commerce Resources Corp. Announces Private Placements and Appointment to Board of Directors

 

Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) (the "Company" or "Commerce") is pleased to announce that it has engaged Marquest Capital Markets and Casimir Capital Ltd. (the "Agents") to act as lead agent in connection with a private placement of up 11,111,112 flow-through eligible units at a price of $0.18 per unit for gross proceeds of $2,000,000 and up to 3,333,334 common share units at a price of $0.15 per unit for gross proceeds of $500,000.

In addition the Company announces a non-brokered flow-through eligible private placement of up to 6,666,667 units at $0.18 per unit for gross proceeds of $1,200,000.

The flow-through units will consist of one flow-through common share and one half of one non-transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.25 per share for a period of 18 months from the date of issuance.

The common share units will consist of one common share and one half of a non-transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.25 per share for a period of 18 months from the date of issuance. 
The Company will pay to the Agent a commission of 8% of the gross sales of units and issue to the Agent 8% of the number of units sold in Compensation Options, with each Compensation Option being exercisable for eighteen (18) months at a price of $0.25 per share. Other finder's fees may be payable in accordance with the policies of the TSX Venture Exchange ("TSXv").

The securities issued will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSXv.

The proceeds from the unit offering will be utilized for qualified exploration expenditures on the Company's Blue River Tantalum and Niobium, and Eldor Rare Earth Element Projects.

In addition, the Company is pleased to announce the appointment of Mr. Christopher Grove to the Board of Directors. Mr. Grove has worked as Corporate Communications for the Company since 2004, and has significant contacts within the financial communities in North America and Europe. Mr. Grove currently sits on the board of two TSX Venture Exchange companies.

About Commerce Resources Corp.

Commerce Resources Corp. is an exploration and development company with a particular focus on rare metal and rare earth element deposits with the potential for economic grades and large tonnages. The Company is focused on the development of its Upper Fir Tantalum and Niobium Deposit in British Columbia and the Ashram Rare Earth Element Deposit in northern Quebec.


On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All
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Commerce Resources Corp.

EXPLORATION STAGE
CODE : CCE.V
ISIN : CA2006971006
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Nominations of Commerce Resources Corp.
11/28/2012Announces Appointment to Board of Directors; Private Placeme...
Project news of Commerce Resources Corp.
12/4/2013from the Ashram Rare Earth Element Project
11/5/2013Invitation to the Edelmetall- & Rohstoff-Messe 2013
9/13/2013on 2013 Summer Field Program at Ashram Rare Earth Element De...
8/13/2013s Metallurgical Advancements on the Ashram Rare Earth Elemen...
6/19/2013Announces Summer Drill Program at Ashram Rare Earth Element ...
3/27/2013s Programs for Upper Fir Deposit
2/20/2013Produces 40% TREO Mineral Concentrate from Ashram Rare Earth...
12/3/2012s Blue River Tantalum-Niobium Project Activities
11/6/2012Interview with Resource Stock Digest
9/21/2012Engages Roche Ltd. for the Ashram Rare Earth Element Deposit...
6/5/2012Financial Post Features Zimtu Investee Commerce Resources
5/24/2012Reports Robust PEA for Ashram Rare Earth Element Deposit
3/6/2012(Eldor)Reports Significant Increase in Resources and Grade at Eldor
1/27/2012Intersects 325.31m of 1.96% TREO
12/31/2011Exclusive Audio Interview: Resource Stock Digest
12/15/2011Intersects Significant Middle and Heavy Rare Earth Enrichmen...
11/29/2011Comments on Commerce Resources Corp. in Critical Metals Repo...
11/3/2011Announces Positive PEA for Upper Fir Tantalum and Niobium De...
9/24/2011Amends Option Agreement for Carbo Rare Earth Property
8/26/2011(Eldor)on Rare Earth Element Exploration at Eldor Property, Quebec
5/3/2011(Eldor)Update on Drilling at Eldor Rare Earth Project
3/3/2011Ashram Rare Earth Element Deposit Confirmed as a Large Infer...
3/3/2011(Eldor)Resumes Work at Ashram Rare Earth Zone, Eldor Property, Queb...
1/27/2011(Eldor)Intersects 2.30% TREO over 172.89 m at the Eldor Property, Q...
11/25/2010(Eldor)Intersects 2.02% TREO over 303.42 m at the Eldor Property, Q...
11/2/2010(Eldor)Drilling at Ashram Rare Earth Zone Expands Tonnage Potential...
6/4/2009(Eldor)reports encouraging tantalum and niobium grades at Eldor pro...
6/5/2008(Eldor)Drilling Begins at Niobium, Tantalum, Phosphate and Uranium ...
11/6/2007(Au-wen Claims) Doubles Claims for Blue River Tantalum-Niobium Project and ...
10/1/2007Announces 17 Drill Holes on Upper Fir Extend Strike to Over ...
3/5/2007(Blue River - Fir)Announces Upper Fir Resource Estimate
Corporate news of Commerce Resources Corp.
2/3/2014Interview with Secutor Capital Management Corporation
1/29/2014News Release
1/10/2014News Release
12/23/2013News Release
9/17/2013Blog: Summer 2013 Ashram Drill Program Photo Gallery
7/12/2013Announces Resource Update for Upper Fir Tantalum-Niobium Dep...
1/11/2013Invitation to the 2013 Vancouver Resource Investment Confere...
11/15/2012s Metallurgical Test Work
7/6/2012Announces Updated Mineral Resource for Upper Fir Tantalum-Ni...
12/8/2011(Eldor)Drills Significant Heavy Rare Earths at Eldor
10/19/2011(Eldor)Drills Significant Heavy Rare Earths at Eldor
9/19/2011Fundamental Research Corp. Issues Rating for Commerce Resour...
9/1/2011Strategy Metals Bulletin: Tantalum Fundamentals
8/4/2011Confirms Middle and Heavy Rare Earth Enrichment at Ashram
6/29/2011(Eldor)Drills 2.10% TREO Over 586 metres at Eldor
6/6/2011Closes $7.5 Million Private Placement
4/19/2011(Eldor)Files NI 43-101 Report for Eldor Rare Earth Mineral Resource
4/18/2011Files NI 43-101 Technical Report for Initial Resource Es...
3/30/2011Fundamental Research Corp. Issues Rating for Commerce Resour...
9/23/2008Welcomes Honourable Gordon Hogg Minister Responsible for Min...
8/11/2008Exploration Update for Blue River Tantalum and Niobium Proje...
7/14/200880% Price Increase for Tantalum Raw Materials
2/15/2008 Announces Graduation to TSX Venture Tier 1
12/19/2007Announces Significant Niobium-Tantalum-Uranium-Gold Minerali...
12/3/2007Featured in The Vancouver Province
11/21/2007President Interview
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TSX-V (CCE.V)FRANKFURT (D7H.F)
0.240-2.04%0.171+1.18%
TSX-V
CA$ 0.240
10/23 15:55 -0.010
-2.04%
Prev close Open
0.250 0.245
Low High
0.240 0.245
Year l/h YTD var.
0.110 -  0.320 100.00%
52 week l/h 52 week var.
0.060 -  0.320 166.67%
Volume 1 month var.
65,645 -4.00%
24hGold TrendPower© : 23
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