New Issue: Commerce Resources again increases units placement, now to C$7.13 million

By Devika Patel

Knoxville, Tenn., Sept. 21 - Commerce Resources Corp. said it once again has increased a private placement of units, this time to C$7.13 million. The deal priced for C$5 million on Aug. 11 and was increased to C$6.67 million on Sept. 14.

The company now will sell 17,814,250 units at C$0.40 apiece. Each unit will consist of one common share and one half-share warrant. Each whole two-year warrant is exercisable at C$0.50 in the first year and at C$0.54 in the second year.

Pope & Co. Ltd. is the lead agent and raised C$2.81 million. The remainder was non-brokered.

Proceeds will be used for exploration and development and general working capital.

Commerce is a mineral exploration company based in Vancouver, B.C.

Issuer:	Commerce Resources Corp.
Issue:	Units of one common share and one half-share warrant
Amount:	C$7,125,700
Units:	17,814,250
Price:	C$0.40
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.50 in the first year, C$0.54 thereafter
Agent:	Pope & Co. Ltd. (for C$2,808,600), non-brokered
Pricing date:	Aug. 11
Upsized:	Sept. 14, Sept. 21
Stock symbol:	TSX Venture: CCE
Stock price:	C$0.45 at close Aug. 11
Market capitalization:	C$59.1 million

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