Mr. Ed Kruchkowski reports
DECADE RESOURCES CLOSES PRIVATE PLACEMENT FOR TOTAL GROSS PROCEEDS OF $255,000
Decade Resources Ltd. has closed its previously announced private placement.
A total of 8.5 million units were issued on a private placement basis at a price of three cents per unit, for aggregate gross proceeds of $255,000. Each unit comprised one common share and one transferable common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of five cents per share, for a five-year period.
It is expected that the majority of the proceeds will be used for general working capital purposes. The company may use more then 10 per cent of the funds toward exploration on its British Columbia properties. None of the proceeds from the financing will be used for payments to non-arm's-length parties of the company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes, or to persons conducting investor relations activities.
All securities that were issued are subject to a statutory hold period of four months from the date of issuance, expiring Jan. 17, 2026, in accordance with applicable securities laws.
In consideration for introducing the subscribers to the private placement, the company paid a cash finder's fee totalling $20,400 and issued 680,000 warrants, with a two-year term, at five cents to a finder.
Decade Resources 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 grassroots 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, which is presently being updated.
We seek Safe Harbor.
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