April 13, 2009
Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the “Company”) announces that it has granted a total of 1,900,000 incentive stock options. Subject to the approval of the TSX Venture Exchange (the “Exchange”), each stock option is exercisable into one common share of the Company at a price of $0.26 per share for a period of five years. Of the options being granted, a total of 1,000,000 are being granted to directors and officers of the Company.
The Company also announces the re-pricing of a total of 4,220,000 incentive stock options to reflect current market conditions, subject to the approval of the Exchange. The options were originally granted in 2006 and 2007 at prices ranging from $0.30 to $1.15. The new exercise price for the options will be $0.26 per share. Insiders hold 2,550,000 of the options and disinterested shareholder approval for the re-pricing of those options is being sought at the Company’s AGM, being held on May 8, 2009.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
Tel: 604 484 2700
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, approval not being received for the re-pricing of the stock options from the TSX Venture Exchange. As well, economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.