Commerce Resources Corp. Announces Closing of First Tranche of Flow-through Non-brokered Private Placement

VANCOUVER, BC / December 24, 2020 / Commerce Resources Corp. (TSXV: CCE) (FSE: D7H0) (the "Company" or "Commerce") is pleased to announce that, following its press release dated December 18, 2020, it has launched an initial tranche (the "First Tranche") of the Completed a non-brokered private placement pursuant to which it has issued a total of 6,279,838 common shares (each one "Share") issued on a "flow-through" basis under the Income Tax Act (Canada) at a price of US $ 0.31 per share for gross proceeds of $ 1,946,749.79 (the "Offering"). The company intends to close a second tranche by December 31, 2020.
All gross proceeds from the sale of the offering will be used to advance the development of the Company's Ashram REE deposit in Quebec.
In connection with the completion of the First Installment, the company paid a finder fee of $ 30,000.
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The securities issued as part of the first tranche are subject to a statutory holding period of four months and one day from the date of closing.
About Commerce Resources Corp.
Commerce Resources Corp. is an exploration and development company with a special focus on deposits of rare metals and rare earth elements. The Company is focused on the development of its Ashram rare earth elements / fluorspar deposit in Quebec and the Upper Fir tantalum niobium deposit in British Columbia.
For more information, please visit the company website at www.commerceresources.com or email info@commerceresources.com.
On behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris Grove
President and Director
Tel .: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Commerce Resources Corp.


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https://www.accesswire.com/622314/Commerce-Resources-Corp-Announces-Closing-of-First-Tranche-of-Flow-through-Non-brokered-Private-Placement

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