By Sheri Kasprzak
New York, July 5 - Commerce Resources Corp. priced a C$2.01 million private placement.
The company intends to sell 6.7 million units at C$0.30 apiece.
The units are comprised of one share and one warrant with each warrant exercisable at C$0.45 for one year.
The proceeds will be used for exploration on the company's tantalum properties in British Columbia as well as for working capital.
Commerce, based in Vancouver, B.C., is a mineral exploration and development company.
| Issuer: | Commerce Resources Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.01 million
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| Units: | 6.7 million
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| Price: | C$0.30
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.45
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| Pricing date: | July 5
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| Stock symbol: | TSX Venture: CCE
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| Stock price: | C$0.33 at close July 4
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