RE:News: Commerce Res Share Consolidation [Reverse Split 10:1]Rockstone Research
According to a statement from Chris Grove, President of Commerce Resources: “More capital is needed to complete the pilot plant and produce the approximately 20 samples requested by global majors who have all said a version of the following: 1) they are worried about future supplies and prices for the REEs, and 2) they do not want to have to depend upon a Chinese source for their own future.“ Overall, Commerce Resources has had the immense support of Zimtu Capital Corp. and the patience of all debt holders who believe that Ashram is the right REE project to solve the Western World’s supply problems for these essential commodities. Zimtu Capital held 17,784,178 shares of Commerce Resources at a cost base of $0.15 CAD per share according to Zimtu‘s Quarterly Report as at February 28, 2019.
Typically, the goal of a share consolidation (also called “roll-back“) is to complete an equity financing sometime thereafter...
https://www.rockstone-research.com/index.php/de/research-reports/5531-Lean-and-Mean-A-Fighting-Machine