August 27, 2019 – Commerce Resources Corp. (TSXv: CCE, FSE: D7H) (the “Company” or “Commerce”) is pleased to announce that it has closed the oversubscribed non-brokered flow through private placement (the “Offering”) of units (each, a “Unit”) at a price of $0.55 per Unit as previously announced by News Release of August 12, 2019, August 21, 2019 and August 23, 2019.The Offering was oversubscribed by $13,750.The total amount of the Offering was 752,272 Units for aggregate proceeds of $413,749.60.
The aggregate gross proceeds from the sale of the Offering will be used to advance the developments of the Company’s Ashram REE Deposit in Quebec.
Finders’ fees of $24,000 were paid in connection with the Offering to an eligible finder.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring December 27, 2019.
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 its 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 firstname.lastname@example.org.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
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.