Commerce Resources Corp. Announces Private Placement Raising Up to $2,016,000

Commerce Resources Corp. has announced a non-brokered private placement offering of up to 16,000,000 units at $0.126 per unit. This offering aims to raise up to $2,016,000 in gross proceeds. Each unit comprises one common share and one share purchase warrant, allowing the holder to purchase a share at $0.25 for two years post-closing.

Churchill SIG Pty Ltd. will act as exclusive lead manager for up to three months, introducing qualified subscribers, excluding Canadian residents. Churchill will earn a 5% cash fee and 12.5% in non-transferable share purchase warrants based on the amount raised.

Proceeds will fund the completion of the updated PEA for the Ashram REE/Fluorspar Deposit and general working capital. All securities issued will be subject to a hold period expiring four months and one day after closing. The completion of the offering is subject to TSX Venture Exchange approval.