By Laura Lutz
Des Moines, Oct. 16 - Commerce Resources Corp. settled the second and final tranche of a private placement for a total of C$3,883,343.
The company sold 12,944,477 units, including 3,426,999 in the second tranche, to 195 investors.
The units of one common share and one warrant sold for C$0.30 apiece. Each warrant is exercisable at C$0.45 for one year.
Proceeds will be used for exploration and development at the company's Blue River project and for working capital.
Based in Vancouver, B.C., Commerce Resources focuses on tantalum and niobium projects.
| Issuer: | Commerce Resources
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3,883,343
|
| Units: | 12,944,477
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
| Settlement date: | Oct. 13
|
| Stock symbol: | TSX Venture: CCE
|
| Stock price: | C$0.38 at close Oct. 13
|
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