Stewart, BC – Decade Resources Ltd (“Decade” or the Company) has completed non-brokered private placement non-flow-through units to raise aggregate gross proceeds of up to $500,000. Teuton Resources Corp. has entered into a private placement with its joint venture partner, Decade Resources Ltd., subscribing for 10,000,000 non-flow-through common shares at a price of $0.05 per NFT Share. Total investment is $500,000 dollars. Net proceeds of the Private Placement will be used to advance exploration of the Del Norte Project as well as for general working capital purposes.
All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period. No finder’s fees were paid in connection with the Private Placement. The Private Placement is subject to receipt of final approval of the TSX Venture Exchange.
The offering of non-flow-through units will comprise up to 10,000,000 units, at a price of five cents per unit, for gross proceeds of up to $500,000. Each unit will comprise 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 eight cents per share, for a two-year period.
Ed Kruchkowski, President and CEO of Decade Resources, stated: “This significant equity investment by Teuton, the optionor of the Del Norte, is a very strong endorsement of both Decade Resources and the Del Norte project. We are pleased that our partner Teuton and their President and CEO Dino Cremonese have so much confidence in the project and in Decade Resources as the operator of the Del Norte project.
Dino Cremonese, President and CEO of Teuton commented: “This investment was made primarily on the strength of the Del Norte gold-silver property. However, we also took into consideration the many other precious metal properties owned by Decade in the Golden Triangle such as the Red Cliff. We also recognize Ed Kruchkowski, President of Decade, as a very seasoned explorer who has more than forty years of experience in the region and who has participated in many discoveries therein during that time.”
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, 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.”