VANCOUVER, May 15 /CNW/ - Commerce Resources Corp. (TSXv: CCE) (FSE: D7H) (the "Company") is pleased to announce the appointment of Mr. Sven Olsson to the Board of Directors.
Mr. Olsson has held the position of Director of Media and Corporate Communications for AXINO AG, a European consulting firm specializing in communications for companies in the resource sector, since 2001. In his role with AXINO AG, Sven was responsible for investor relations in Europe for numerous major and micro-cap resource based companies in all phases of development. His network of contacts within the mining and financial communities as well as media extends across Europe and North America.
In addition, the Company has received TSX Venture Exchange approval of the re-pricing of 4,220,000 incentive stock options. The options were originally granted in 2006 and 2007 at prices ranging from $0.30 to $1.15 and now bear an exercise price of $0.26 per share.
All other resolutions presented by management at its Annual General Meeting, held on May 8, 2009, have been approved. The Company would like to thank its shareholders for the support and strong vote of confidence reflected in the voter turnout.
§ On Behalf of the Board of Directors
§ COMMERCE RESOURCES CORP.
§ "David Hodge"
§ -------------
§ David Hodge
§ President and Director
§ Tel: 604.484.2700
§ Neither TSX Venture Exchange nor its Regulation Services Provider (as
§ that term is defined in the policies of the TSX Venture Exchange)
§ accepts responsibility for the adequacy or accuracy of this release.
§
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
For further information
David Hodge, President and Director, Tel: (604) 484-2700
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