The Company reports that it has increased the amount of its non-brokered private placement from up to 9,000,000 units (the “Units”) to up to 10,250,000 units.
Each Unit is priced at $0.25 per Unit to raise total proceeds of up to $2,562,500, up from the previously announced proceeds of up to $2,250,000.
The Offering was first announced in a news release dated March 24, 2010 and again on April 1, 2010.
The units will be comprised of one flow-through common share and one-half of one non-flow-through warrant, each whole warrant being exercisable for the purchase of one additional share, at a price of $0.35 per share, for a one year period or, if the trading price of the Company’s shares on the TSX Venture Exchange for 20 consecutive trading days exceeds $0.75 per share during the exercise period, the expiry time of the warrants shall be accelerated such that the expiry time will be 30 calendar days from the date of express written notice is sent by the Company to the holder by way of registered mail, provided the Company may not provide such notice until four months and a day after the date of issuance of the units.
Proceeds of the offering will be expended on mineral exploration on the Company’s properties located in British Columbia.
Finders’ fees are payable on part of the offering in accordance with TSX Venture Exchange policy.
Decade Resources Ltd. is a Canadian-based mineral exploration company whose activities are in the Stewart area of British Columbia.
For further information, please contact Andrew Bowering or John Van Duzen at 604-681-0710.
ON BEHALF OF THE BOARD OF DIRECTORS
“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.”