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VANCOUVER, July 13, 2012 /CNW/ - Commerce Resources Corp. (TSXv: CCE; FSE: D7H; OTCQX: CMRZF) (the "Company") is pleased to
announce that it has engaged NCP Northland Capital Partners Inc. (the
"Agent") to act as lead agent in connection with a private placement of
up to 6,666,666 units at a price of $0.30 per unit.
Each unit will consist of one flow-through common share and one half of
one non flow-through common share purchase warrant. Each whole share
purchase warrant is exercisable into one common share of the Company
for a period of two years at a price of $0.40 per share in the first
year and $0.48 per share in the second year. The securities issued
will be subject to a four-month hold period from the date of closing.
The private placement is subject to the approval of the TSX Venture
Exchange (the "TSXv").
The Company will pay to the Agent a commission of 7% of the gross sales
of units and issue to the Agent 7% of the number of units sold in
Compensation Options, with each Compensation Option being exercisable
for 2 years at a price of $0.30.
The proceeds of the private placement will be used to advance the
Company's Eldor Rare Earth Project, Blue River Tantalum-Niobium
Project, and for general working capital.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
President and Director
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.
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 Commerce Resources Corp.
will complete a brokered private placement for gross proceeds of
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
For further information:
For more information on Commerce Resources Corp., visit the corporate website at http://www.commerceresources.com or email email@example.com.