CMRZF - Commerce Resources to raise $2M in stock and warrants offering
- Commerce Resources ( OTCQX:CMRZF ) to announce a non-brokered private placement financing to raise gross proceeds of $2M from the sale of 12.5M units priced at $0.16 per unit.
- Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase one share at a price of $0.25/share for a period of three years from closing of the offering.
- Insiders may participate in the offering.
- All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering.
- Company intends to use the net proceeds of the financing towards continued work on the pre-feasibility study for the Company's Ashram REE/ Fluorspar Deposit, the production of commercially marketable samples of Rare Earth concentrates as requested by industry majors and for general working capital purposes.
For further details see:
Commerce Resources to raise $2M in stock and warrants offering