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Commerce Resources (TSXV:CCE) Announced a non-brokered Private Placement

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The company is looking to raise gross proceeds of up to $2 million from the placement of up to 9,523,809 units priced at $0.21 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.29 for 60 months.

Additional Information:

Company: Commerce Resources
Website: http://www.CommerceResources.com
Stock Symbol: TSXV: CCE
Date Published: Nov 10, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Commerce Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2 million from the placement of up to 9,523,809 units priced at $0.21 per unit.

The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.29 for 60 months.

Units may be purchased by shareholders of record on November 4, 2020.

Proceeds will be used to advance development at the company’s Ashram REE Deposit in Quebec and for working capital.

The shares are currently trading at $0.215.

Commerce Resources 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/ Fluorspar Deposit in Quebec and the Upper Fir Tantalum-Niobium Deposit at the Blue River Project in British Columbia.

The 100% owned Ashram Deposit is one of the largest rare earth deposits being advanced globally, with a fluorspar component which also ranks it as one of the largest fluorspar deposits defined globally.

The Ashram Deposit outcrops at surface, allowing for cost-effective collection of material for test work, with the company actively engaging with various research and academic institutions to support the advancement of the REE industry in Canada, and in Quebec specifically.

As disclosed in the NI 43-101 Resource Estimate completed in 2012, the Ashram Deposit hosts a well-balanced rare earth distribution anchored in the magnet feed rare earths.

With a mineralized footprint of approximately 600 meters along strike, over 400 meters across, and 600 meters deep, Ashram remains open to the south, at depth, and is not fully constrained to the east.

For more information, please visit the company’s website at www.CommerceResources.com, contact Chris Grove, President, at 604-484-2700 or by email at CGrove@CommerceResources.com.

Commerce Resources is a portfolio company of Zimtu Capital.

For more information about Zimtu, please visit www.zimtu.com or contact David Hodge, President, at 604-681-1568 or by email at info@zimtu.com.

I’m Megan Edwards for Investmentpitch Media