Vancouver (pcJ News Briefs) – Commerce Resources Corp. (TSX-V: CCE; FSE: D7H; OTCQX: CMRZF) has arranged a non-brokered private placement financing of up to 16,666,667 units at $0.06 per unit for gross proceeds of up to $1 million.
Each unit consists of one common share and one share purchase warrant entitling the holder thereof to purchase one additional share 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.
Commerce Resources intends to use proceeds for working capital.
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 its Ashram Rare Earth Element Deposit in Quebec and the Blue River Tantalum-Niobium Deposit in British Columbia.
photo credit: Commerce Resources
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