Latest news with #CommerceResources
Cision Canada
5 days ago
- Business
- Cision Canada
Commerce Resources Strengthens Québec Presence with CEO's First Visit to Kuujjuaq and New Corporate Headquarters in Québec
CEO prioritised a visit to Kuujjuaq to meet with key local stakeholders, underscoring the Company's commitment to working closely with host communities and advancing the Ashram Rare Earth Element (REE) Project in a responsible and collaborative manner. MONTREAL AND QUÉBEC CITY, June 5, 2025 /CNW/ -- Commerce Resources Corp. (TSXV: CCE, FSE: D7H0, OTCQX: CMRZF) (the " Company" or " Commerce") is pleased to announce that, following the recent appointment of experienced international mining executive Mr. Nick Holthouse as its new Chief Executive Officer (Appointment of Nicholas Holthouse as President & CEO), the Company is reinforcing its commitment to Québec and the development of its Ashram Rare Earth Element (REE) Deposit. Mr. Holthouse, together with key executives including Director Jeremy Robinson and General Manager Sustainability Cindy Valence, will lead a series of stakeholder engagements this week including a visit to Kuujjuaq, Nunavik to meet Indigenous leadership and local partners near the Ashram Project. This visit reflects the Company's strong intent to collaborate transparently and constructively with host communities in the development of the Ashram Project. The Company has recently completed a strategic restructuring of the Commerce team to better align resources with critical project advancement milestones. As part of this realignment, the delivery of the Preliminary Economic Assessment (PEA) has been rescheduled to the second half of 2025. The new management team is diligently progressing through key deliverables to support the successful advancement of the Ashram Project. Commerce Resources is committed to developing Ashram with an innovative and responsible approach that minimizes environmental and social impacts. The Company is actively working to incorporate traditional knowledge, culture and local priorities into the project's design, while fostering opportunities for employment and economic participation. These engagements are an essential part of advancing the upcoming Preliminary Economic Assessment (PEA), helping to ensure that the study accurately reflects regional realities and community perspectives. New Headquarters in Montréal To support the ongoing growth and strengthen its strategic presence in Québec, Commerce Resources is pleased to announce the relocation of its head office to Montréal at 3 Place Ville Marie Suite 400, Montréal, Qc. This move enhances the Company's capacity for project development and stakeholder engagement across the province. This move will enhance the Company's capacity to develop the project and facilitate improved engagement with stakeholders across the province. Commerce Resources will be actively participating in key industry events in the coming days, including: These platforms will provide an opportunity to further present the Ashram Project and meet with investors and potential partners across North America. The latest presentation is available on the Company website (Investor Presentation: June 2025) Commerce CEO & President, Nicholas Holthouse, commented: "Our strengthened presence in Québec reflects Commerce Resources' commitment to advancing the Ashram Project in a responsible and collaborative manner, aligned with the Province's strategic vision for critical minerals. "The Ashram deposit is one of the largest and most significant rare earth projects in North America and we are positioning it to be a cornerstone of North America's secure and sustainable rare earths supply chain." For more information, please visit the corporate website at or email [email protected]. COMMERCE RESOURCES CORP. Nicholas Holthouse President and CEO Phone: + 61 428 964 276 Email: [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FORWARD LOOKING STATEMENTS This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Forward looking statements in this news release include statements regarding the expected listing on the Australian Securities Exchange and the expected appointment of a permanent president and CEO thereafter; the continued advancement of the Ashram project to development; that Ashram's fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets; that the Company is positioning to be one of the lowest cost rare earth element producers globally, with a focus on being a long-term global supplier of mixed rare earth carbonate and/or NdPr oxide; and that the Company may explore the potential of other high-value commodities on the Ashram Property. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these events, activities or developments from coming to fruition include: that the Company may not complete a listing on the Australian Securities Exchange; that the Company may not be able to fully finance any additional exploration on the Ashram Project; that even if the Company is able raise capital, costs for exploration activities may increase such that the Company may not have sufficient funds to pay for such exploration or processing activities; the timing and content of the proposed drill program and any future work programs may not be completed as proposed or at all; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from the Ashram Project may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the anticipated market demand for rare earth elements and other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability; and despite the current expected viability of the Ashram Project, conditions changing such that even if metals or minerals are discovered on the Ashram Project, the project may not be commercially viable. The forward-looking statements contained in this news release are made as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Associated Press
13-05-2025
- Business
- Associated Press
Snow Lake Secures Strategic Stake in North America's Largest Undeveloped Rare Earths Project Amid Global Supply Chain Pressures
Winnipeg, Manitoba--(Newsfile Corp. - May 13, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ('Snow Lake'), is pleased to announce a cornerstone investment in Commerce Resources Corp (TSXV: CCE), ('Commerce'), to advance its Ashram Rare Earths Project - the largest undeveloped Rare Earths Project in North America. This investment comes at a critical moment for the global technology supply chains, as the world's dependency on China—currently responsible for approximately 90% of all processed rare earth output—faces mounting pressure. Beijing's recent tightening of export controls on key REEs, including rare earth magnets, has further accelerated the race among Western governments and companies to establish secure, domestic sources of critical minerals. Highlights 1 CEO Remarks 'This is more than a financial investment—it's a strategic move to help secure North America's rare earth future,' said Frank Wheatley, CEO of Snow Lake. 'As the U.S. and its allies prioritize supply chain independence from China, the Ashram Project stands out as one of the most significant and advanced domestic REE opportunities on the continent.' 'As a clean energy and critical metals company, we believe our investment in Commerce Resources Corp. provides us with a strategic toehold in the largest undeveloped rare earth element project in North America 'The merger of Commerce and Mont Royal will create a well-funded Canadian-focused critical metals company with an excellent portfolio of rare earth element projects at an advanced stage of exploration. With the global race for rare earth elements accelerating amid international trade tensions, accentuated by certain rare earths export controls imposed by the Chinese who produce ~90% of the global supply of processed rare earths, we believe that supporting Commerce in this merger with Mont Royal will provide the merged entity with the capabilities to advance development of the Ashram Project to the benefit of Commerce's, Mont Royal's and Snow Lake's shareholders. As global trade continues to experience significant volatility and uncertainty, we believe developing a North American deposit of rare earth minerals directly supports the U.S. Administrations policies regarding securing a steady supply of rare earths and critical minerals.' The Strategic Imperative Rare earth elements are indispensable to EV motors, wind turbines, defense systems, and high-tech electronics. With China's dominance increasingly seen as a national security concern, the U.S. Administration has launched multiple programs to localize critical mineral supply chains, including REEs. Snow Lake's investment helps fill that gap by supporting the Ashram Project's progress toward production, while aligning with both Canadian and U.S. objectives to de-risk mineral inputs for clean energy and defense technologies. Commerce Resources Corp. - Interim Convertible Note Financing Commerce is undertaking a secured convertible note ('Convertible Notes') financing to raise up to C$2.2 million to provide interim funding to be used for the continuation of studies for the development of the Ashram Project and for working capital while the Merger is completed. The Convertible Note Financing is necessary and integral for the Transaction. Snow Lake has agreed to purchase C$1.1million of the Convertible Notes. A summary of the key terms of the Convertible Notes are set out below: The Convertible Note Financing completed on April 12, 2025. Merger Rationale The Merger will create a Québec-focused critical minerals explorer and developer through the combination of Commerce's Ashram Project and the Eldor Niobium exploration project and Mont Royal's Northern Lights Lithium Project (the 'Merged Group'). The merger will result in a dual listing on the TSX Venture Exchange (the 'TSXV') and the Australian Securities Exchange (the 'ASX'), enabling greater access to liquidity and funding for the Ashram Project, with the combined entity bringing together highly experienced members of the management teams of each company with strong capital markets experience, project development and operational expertise. In addition to Commerce's existing assets in Canada, key highlights of the Merger include: CAUTIONARY NOTE CONCERNING THE USE OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES As a registrant with the United States Securities and Exchange Commission ('SEC'), Snow Lake must report its exploration results, mineral resources, and mineral reserves using the mining disclosure standards of Subpart 229.1300 of Regulation S-K Disclosure by Registrants Engaged in Mining Operations ('S-K 1300"). S-K 1300 is a rule developed by the SEC, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms 'mineral resource', 'measured mineral resource', 'indicated mineral resource' and 'inferred mineral resource' are defined in accordance with S-K 1300. Readers are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into a higher category of mineral resources or mineral reserves. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Under S-K1300, an inferred mineral resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve. As a Canadian junior mineral resource company, Commerce does not need to report its exploration results, mineral resources, and mineral reserves using S-K 1300. Instead, it reports in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The terms 'mineral resource', 'measured mineral resource', 'indicated mineral resource' and 'inferred mineral resource' are defined in accordance with NI 43-101. Readers are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into a higher category of mineral resources or mineral reserves. 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in very limited circumstances. While S-K 1300 uses the same terminology for mineral reserves and mineral resources as NI 43-101, the definitions, while similar, are not identical to NI 43-101. Accordingly, information included in this press release concerning mineral resources of Commerce in accordance with NI 43-101 may not be comparable to similar information prepared in accordance with S-K 1300. About Commerce Resources Corp. Commerce (TSXV: CCE) is a Canadian junior mineral resource company focused on the exploration and development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. Commerce is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. Additionally, the Ashram Deposit has a fluorspar component which makes it one of the largest potential sources of fluorspar in the world and could be a long-term supplier to the met-spar and acid-spar markets. For more information on Commerce, please visit their website 3. About Mont Royal Resources Limited Mont Royal Resources Limited (ASX: MRZ) is an Australian company that owns 75% of Northern Lights Minerals 536km 2 tenement package located in the Upper Eastmain Greenstone belt in Quebec. This project is located in the emerging James Bay area, a Tier-1 mining jurisdiction of Quebec, Canada, and are prospective for lithium, precious (Gold, Silver) and base metals mineralization (Copper, Nickel). For further information on Mont Royal, please visit their website 4. Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on (NASDAQ: LITM), with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba. Learn more at Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the 'safe harbor' provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' 'will,' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled 'Risk Factors' in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. 1Commerce Resources and Mont Royal Resources Enter into Arrangement Agreement to create a Canadian-Focused Critical Minerals Development Company - Commerce Resources 2 Due to its simple gangue and well-understood rare earth mineralogy, the Ashram Deposit is able to produce high-grade mineral concentrates at high recovery (>40% TREO at >75% recovery), in line with active global producers. - 3Home - Commerce Resources To view the source version of this press release, please visit
