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VANCOUVER,
Jan. 5, 2016 /CNW/
- Commerce Resources Corp. (TSXv:
CCE, FSE: D7H, OTCQX: CMRZF) (the "Company") is pleased to announce
that it has closed a second tranche of a non-brokered private
placement, originally announced on November
24, 2015, for gross proceeds of $323,796. The Company issued
2,943,600 flow-through shares ("FT Shares") at a price of
$0.11 per FT
Share.
Combining both tranches, the Company has issued a total of
17,947,500 FT Shares at a price of $0.11 per FT Share for gross proceeds of
$1,974,225.
The Company paid a total of $116,792.50 and issued 1,061,750 warrants
exercisable at $0.11 per warrant
share for a period of two years to various finders.
All the securities issuable will be subject to a
four-month hold period from the date of closing.
The proceeds of the private placement will be used in
qualified exploration expenditures at the Company's mineral
properties in Quebec.
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 and Niobium Deposit in British
Columbia.
On Behalf of the Board of
Directors
COMMERCE RESOURCES
CORP.
"Chris Grove"
Chris Grove
President
Tel: 604.484.2700
Neither 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 release.
Forward-Looking
Statements
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. Forward-looking statements in this news
release include that the proceeds of the private placement will be
used in the development of the Company's Quebec mineral properties for the amount of
flow through funds raised.
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, economic, competitive, governmental,
environmental and technological factors that may affect the
Company's operations, markets, products and prices. Investors who
have indicated their investment intent may not close as expected.
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.
SOURCE Commerce Resources Corp.