COMMERCE RESOURCES CORP. ("CCE")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: November 1, 2023
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on September 18, 2023:
Number of Shares: 68,174,750 shares
Purchase Price: $0.08 per share
Warrants: 68,174,750 share purchase warrants to purchase 68,174,750 shares
Warrant Exercise Price: $0.12 for a three-year period
Number of Placees: 106 placees
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Shares
Aggregate Existing Insider Involvement: 1 3,000,000
Aggregate Pro Group Involvement: 1 225,000
Aggregate Cash Amount Aggregate #
of Shares Aggregate #
of Warrants
Finder's Fee: $149,644 N/A 5,062,210
Finder's Warrants Terms: 4,950,000 warrants entitles the holder to purchase one common share at the price of $0.08 for period of 2 years from the date of issuance. 112,210 warrants entitles the holder to purchase one common share at the price of $0.12 for period of 3 years from the date of issuance.
The Company issued a news release on October 30, 2023 and November 1, 2023, confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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