Commerce Resources Corp.: New Leadership Amidst Expected ASX Listing and Ashram Rare Earths Project Development
VANCOUVER, BC – March 17, 2025 – Commerce Resources Corp. (TSXv:CCE)(FSE:D7H0)(OTCQX:CMRZF) (“Commerce” or the “Company”), a mineral exploration company focused on the development of rare earth and other mineral deposits, announced today that Mr. Ross Carroll has stepped down as President and Chief Executive Officer (CEO) and as a member of the board of directors effective immediately. Replacing Mr. Carroll will be Mr. Jeremy Robinson, who currently serves as a non-executive Director.
Transition in Leadership
Mr. Ross Carroll’s departure from his position marks a significant change for Commerce Resources. During his tenure, he played a pivotal role in advancing the Company’s flagship Ashram Rare Earths Project, a world-class deposit located in Quebec, Canada. With the successful completion of the Feasibility Study in 2023 and the ongoing preparations for the expected dual listing on the Australian Securities Exchange (ASX), Mr. Carroll and the Company have mutually agreed that this is an opportune time for a leadership transition.
Interim CEO: Mr. Jeremy Robinson
Mr. Jeremy Robinson, who has been a non-executive Director since 2022, will assume the role of interim President and CEO. He brings a wealth of experience in the mining industry, having served various roles in exploration, development, and corporate management in several companies throughout his career. This experience, combined with his knowledge of Commerce Resources, will be invaluable as the Company navigates the upcoming listing on the ASX and continues the development of the Ashram Rare Earths Project.
Impact on Shareholders
The change in leadership may raise concerns among shareholders, but Mr. Robinson’s extensive background in the mining sector and his familiarity with Commerce Resources should provide a sense of continuity during this transition period. The Company’s focus on the dual listing on the ASX and the development of the Ashram Rare Earths Project remains unchanged.
Impact on the Global Rare Earths Market
The rare earths sector has seen increased attention in recent years due to the growing demand for these critical elements in various industries, including technology, automotive, and renewable energy. The Ashram Rare Earths Project, which holds one of the largest and highest-grade rare earth deposits outside of China, is poised to make a significant contribution to the global rare earths supply chain. With the expected listing on the ASX, Commerce Resources will gain access to a larger investor base and potentially more financial resources to advance the project.
Conclusion
The departure of Mr. Ross Carroll and the appointment of Mr. Jeremy Robinson as interim President and CEO marks a new chapter for Commerce Resources Corp. as the Company prepares for its expected dual listing on the Australian Securities Exchange and continues the development of the world-class Ashram Rare Earths Project. Shareholders and the global rare earths market will closely watch how this transition unfolds, and the potential impact on the Company’s growth and success.
- Mr. Ross Carroll steps down as President and CEO and as a member of the board of directors
- Mr. Jeremy Robinson appointed as interim President and CEO
- Listing on the ASX expected in the coming months
- Mr. Robinson’s extensive experience in the mining sector to provide continuity
- Ashram Rare Earths Project holds one of the largest and highest-grade rare earth deposits outside of China
- Global rare earths market demand continues to grow
