Company sells 23 million flow-through common shares at C$0.11 per share
By Devika Patel
Knoxville, Tenn., Jan. 5 – Commerce Resources Corp. said it raised C$323,796 in the second tranche of a C$2.53 million non-brokered private placement of stock. The deal priced on Nov. 24 and raised C$1.65 million on Dec. 1.
The company is selling 23 million flow-through common shares at C$0.11 apiece. The price per share is a 37.5% premium to the Nov. 23 closing share price of C$0.08. Commerce sold 15,003,900 shares in the first tranche and 2,943,600 shares in the second.
Proceeds will be used for exploration.
Commerce Resources is a rare metals and rare earth elements exploration company based in Vancouver, B.C.
| Issuer: | Commerce Resources Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.53 million
|
| Shares: | 23 million
|
| Price: | C$0.11
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 24
|
| Settlement dates: | Dec. 1 (for C$1,650,429), Jan. 5 (for C$323,796)
|
| Stock symbol: | TSX Venture: CCE
|
| Stock price: | C$0.08 at close Nov. 23
|
| Market capitalization: | C$16.23 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
