Stewart, BC – Decade Resources Ltd. (the “Company”) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement. A total of 2,503,845 flow-through units were issued at the price of $0.065 per unit to raise $162,749.93. Each unit consists of one flow-through common share of the Company and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.08 per share.
All of the shares and warrants, and any shares issued upon exercise of the warrants comprising the units, are subject to a hold period and may not be traded in Canada until January 19, 2019, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
The proceeds of the private placement will be expended on the Company's properties located in British Columbia.
The Company will work towards closing the 2nd tranche for the remaining balance of the $650,000 private placement originally announced on August 15, 2018.