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Decade Resources Ltd. (TSXV: DEC,OTC:DECXF) ("Decade" or the Company) is pleased to announce a non-brokered private placement financing for total gross proceeds of up to $1,500,000.
The financing will consist of:
- 32,500,000 flow-through units ("FT Units") at a price of $0.04 per FT Unit to raise gross proceeds of $1,300,000; and
- 5,000,000 non-flow-through units ("NFT Units") at a price of $0.04 per NFT Unit to raise gross proceeds of $200,000.
Each FT Unit will consist of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.06 per share for a period of two (2) years from the date of issuance.
Each NFT Unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.05 per share for a period of three (3) years from the date of issuance.
The proceeds raised from the sale of the FT Units will be expended on the company's projects located in British Columbia. Proceeds from the NFT Units will be used for general working capital and corporate purposes.
The Company may pay finder's fees to qualified parties in connection with certain subscriptions under the financing. The finder's fees will consist of a cash commission equal to 8% of the gross proceeds from those subscriptions and the issuance of finder's warrants equal to 8% of the number of applicable units sold. Each finder's warrant will be exercisable to acquire one common share at a price of $0.06 for a period of two (2) years from the date of issuance and non-transferable.
The private placement is subject to acceptance by the TSX Venture Exchange. All securities issued pursuant to the financing will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws and TSX Venture Exchange policies.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
ON BEHALF OF THE BOARD OF Decade Resources Ltd.
"Ed Kruchkowski"
Ed Kruchkowski, President
"Neither the 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."
"This news release may contain forward-looking statements. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently
anticipated in such statements."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273090
