Commerce Resources Corp. Announces $5 Million Private Placement of Flow-Through Shares

Commerce Resources Corp. (TSXv: CCE) revealed a non-brokered private placement offering of up to 27,777,777 charity flow-through shares at $0.18 per share, aiming to gather up to $5,000,000. Orchestrated by Peartree Securities Inc., the shares are available under a charity arrangement.

Churchill SIG Pty Ltd. will serve as the lead manager to introduce prospective subscribers outside Canada. As compensation, Churchill receives a cash fee of 5% on funds raised and non-transferable share purchase warrants equating to 10% of the introduced shares.

The funding will be utilized for drilling niobium targets in Nunavik, Quebec. Closing is anticipated around June 18, 2024, with required regulatory approvals pending. Insiders' participation triggers related party transaction laws, but exemptions apply under Multilateral Instrument 61-101.

The flow-through shares will be considered "Canadian exploration expenses" and must be incurred by December 31, 2025.