Commerce Resources Corp. Announces Extension to Private Placement of up to 16,000,000 Units to Raise Gross Proceeds of up to $2,016,000
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) has extended the deadline for its previously announced non-brokered private placement offering. The company aims to raise up to $2,016,000 by issuing 16,000,000 units at $0.126 per unit. Each unit includes one common share and one warrant, with the warrant allowing the purchase of an additional share at $0.25 for two years. The new deadline is August 26, 2024.
Churchill SIG Pty will act as the exclusive lead manager for a portion of the offering, receiving a 5% cash fee and 12.5% in finder's warrants for subscribers they introduce. The net proceeds will fund the completion of an updated PEA for the Ashram REE/Fluorspar Deposit and general working capital.
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) ha esteso la scadenza per la sua offerta di collocamento privato non mediato precedentemente annunciata. L'azienda intende raccogliere fino a 2.016.000 dollari emettendo 16.000.000 di unità a $0.126 per unità. Ogni unità comprende un'azione comune e un warrant, con il warrant che consente l'acquisto di un'ulteriore azione a $0.25 per due anni. La nuova scadenza è il 26 agosto 2024.
Churchill SIG Pty agirà come gestore esclusivo per una parte dell'offerta, ricevendo una commissione in contante del 5% e il 12,5% in warrant per i sottoscrittori che presenteranno. I proventi netti finanzieranno il completamento di un PEA aggiornato per il deposito Ashram REE/Fluorspar e il capitale circolante generale.
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) ha extendido la fecha límite para su oferta de colocación privada no mediada previamente anunciada. La empresa busca recaudar hasta 2.016.000 dólares emitiendo 16.000.000 de unidades a $0.126 por unidad. Cada unidad incluye una acción común y un warrant, que permite la compra de una acción adicional a $0.25 durante dos años. La nueva fecha límite es el 26 de agosto de 2024.
Churchill SIG Pty actuará como el gestor principal exclusivo de una parte de la oferta, recibiendo una tarifa en efectivo del 5% y un 12.5% en warrants de intermediación para los suscriptores que presenten. Los ingresos netos financiarán la finalización de un PEA actualizado para el depósito Ashram REE/Fluorspar y el capital de trabajo general.
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF)는 이전에 발표된 중개인 없는 사모유치 마감일을 연장했습니다. 회사는 2,016,000달러까지 자금을 조달할 계획이며, 16,000,000 유닛을 유닛당 $0.126의 가격으로 발행할 예정입니다. 각 유닛은 하나의 보통주와 하나의 워런트를 포함하며, 워런트는 2년 동안 추가 주식을 $0.25에 구매할 수 있게 해 줍니다. 새로운 마감일은 2024년 8월 26일입니다.
Churchill SIG Pty는 특정 부분의 제공에 대해 독점적인 주요 관리자로 활동하며, 소개한 가입자에게 5%의 현금 수수료와 12.5%의 중개인 워런트를 받게 됩니다. 순수익은 Ashram REE/Fluorspar Deposit에 대한 업데이트된 PEA의 완료와 일반 운영 자본을 위해 사용됩니다.
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) a étendu la date limite pour son offre de placement privé sans intermédiaire précédemment annoncée. L'entreprise vise à lever jusqu'à 2 016 000 $ en émettant 16 000 000 d'unités à 0,126 $ par unité. Chaque unité comprend une action ordinaire et un bon de souscription, permettant l'achat d'une action supplémentaire à 0,25 $ pendant deux ans. La nouvelle date limite est le 26 août 2024.
Churchill SIG Pty agira en tant que gestionnaire principal exclusif pour une partie de l'offre, recevant une commission en espèces de 5 % et 12,5 % en bons de souscription pour les abonnés qu'ils présenteront. Les produits nets financeront l'achèvement d'une PEA mise à jour pour le dépôt Ashram REE/Fluorspar et le fonds de roulement général.
Commerce Resources Corp. (TSXV:CCE, FSE:D7H0, OTCQX:CMRZF) hat die Frist verlängert für ihr zuvor bekannt gegebenes nicht vermittelte Privatplatzierungsangebot. Das Unternehmen beabsichtigt, bis zu 2.016.000 Dollar durch die Ausgabe von 16.000.000 Einheiten zu einem Preis von 0,126 $ pro Einheit zu beschaffen. Jede Einheit enthält eine Stammaktie und einen Warrant, wobei der Warrant den Kauf einer zusätzlichen Aktie zu 0,25 $ für zwei Jahre ermöglicht. Die neue Frist ist der 26. August 2024.
Churchill SIG Pty wird als exklusiver Hauptmanager für einen Teil des Angebots fungieren und eine Bargebühr von 5 % sowie 12,5 % an Vermittlungswarrants für die von ihnen eingeführten Abonnenten erhalten. Die Nettoerlöse werden die Fertigstellung einer aktualisierten PEA für das Ashram REE/Fluorspar-Depot und das allgemeine Betriebskapital finanzieren.
- Potential to raise up to $2,016,000 in gross proceeds
- Extension of deadline provides more time to secure funding
- Engagement of Churchill SIG Pty as lead manager may help attract investors
- Proceeds to be used for updating PEA of Ashram REE/Fluorspar Deposit
- Dilution of existing shareholders due to issuance of new shares
- Fees and warrants to Churchill reduce net proceeds from the offering
- Uncertainty of raising full amount by the extended deadline
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / July 25, 2024 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) (the "Company" or "Commerce") announces that it has requested and has received acceptance from the TSX Venture Exchange (the "Exchange") to extend the deadline to complete its previously announced non-brokered private placement offering of up to 16,000,000 units (each, a "Unit") at a price of
Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of
Pursuant to a binding engagement agreement ("Term Sheet") entered into between Commerce and Churchill SIG Pty Ltd. ("Churchill"), Churchill will act as exclusive lead manager for the Offering, for a term of up to three (3) months, to introduce (the "Services") potential qualified subscribers to the Company in connection with a portion of the Offering (the "Churchill Portion"). Churchill will not provide the Services in Canada or for the benefit of Canadian residents, and any potential subscribers introduced by Churchill will not be residents of Canada.
As consideration for the Services, and upon completion of the Offering, the Company has agreed to pay Churchill a cash fee (the "Cash Fee") equal to
The Offering will be conducted pursuant to one or more prospectus exemptions available to the Company, including, without limitation, the "accredited investor" exemption set out in Section 2.3 of National Instrument 45-106 - Prospectus Exemptions and the prospectus exemption set out in BC Instrument 72-503 - Distribution of Securities Outside British Columbia.
In addition to the fee payable to Churchill in connection with any persons introduced by Churchill, the Company may pay finders' fees consisting of cash, securities or a combination thereof to other parties in connection with the persons introduced to Commerce by such other parties, all in accordance with the policies of the TSX Venture Exchange (the "Exchange").
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange.
The net proceeds from the sale of the Offering will be used towards completion of the updated PEA for the Ashram REE/ Fluorspar Deposit and general working capital.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>
For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
"Chris Grove"
Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com
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.
Cautionary Statement Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Services to be provided by Churchill, the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, that Exchange approval is required for the proposed Offering, that the Ashram deposit has the potential to become one of the largest fluorspar deposits and a long-term supplier to the mixed rare earth carbonate, NdPr oxide, and met-spar and acid-spar markets; and that the Company is positioning to be one of the lowest cost rare earth element producers globally. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE: Commerce Resources Corp.
View the original press release on accesswire.com
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