Commerce Resources Enters into Agreement to Sell Its Blue River Property

Commerce Resources Corp. (TSXV:CCE) has decided to sell its Blue River property in British Columbia. The company will transfer the Blue River Assets to an arm's length private company, receiving 20 million common shares from the purchaser at a price of $0.05 per share. This decision was taken to allow Commerce Resources to focus on its primary assets in Quebec.

Commerce Resources President Chris Grove commented that concentrating on the Ashram REE/Fluorspar Deposit and niobium claims in Quebec aligns with the company’s strategic priorities. He also expressed confidence that the Blue River claims would be managed effectively by Capacitor Metals.

The sale agreement includes mineral claims and real property in Blue River. Conditions for the transaction include acceptance by the TSX Venture Exchange. The company plans to distribute the received shares to its shareholders at a later date, subject to applicable laws.