Decade Resources Ltd. (the “Company“) is pleased to announce that it has closed the third tranche of its previously announced non-brokered private placement. A total of 1,100,000 flow-through units (“FT Units“) were issued in this tranche at the price of $0.10 per FT Unit to raise $110,000. Each FT Unit consists of one flow-through common share of the Company and one-half of one (non-flow-through) common share purchase warrant. Each full warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.15.
Finders’ fees of $8,800 were paid in cash and 88,000 finders’ warrants were granted in respect of this tranche of the financing. Each finder’s warrant entitles the holder to purchase, for a period of 24 months, one common share of the Company at a price of $0.15.
All of the shares and warrants, and any shares issued upon exercise of warrants, are subject to a hold period and may not be traded in Canada until April 30, 2015, 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.
BY ORDER OF THE BOARD OF DIRECTORS OF DECADE RESOURCES LTD
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.