Commerce Resources Corp. Closes $535,000 Private Placement

VANCOUVER, Sept. 29 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to announce that it has increased the size of the financing announced September 21, 2009 and completed a private placement of a total of 1,337,500 units at a price of $0.40 per unit for gross proceeds of $535,000, subject to the final acceptance of the TSX Venture Exchange.

Each unit will consist of one common share and one half of one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company for two years, at a price of $0.50 per share in the first year and at a price of $0.54 per share in the second year. All securities issued will be subject to a four-month hold period. Finder's fees may be payable in accordance with the policies of the TSX Venture Exchange.

The proceeds of the private placement will be used to advance the Company's exploration and development program on its Blue River Tantalum and Niobium Project, British Columbia, to conduct exploration at the Eldor Property, Quebec, and for general working capital.

In addition, the Company announces that it has granted a total of 200,000 incentive stock options to a director. Subject to the acceptance of the TSX Venture Exchange, each stock option is exercisable into one common share of the Company at a price of $0.68 per share for a period of five years.

    
    On Behalf of the Board of Directors
    COMMERCE RESOURCES CORP.

    "David Hodge"
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    David Hodge
    President and Director
    Tel: 604.484.2700