Stewart, BC - Decade Resources Ltd. (the “Company”) has increased the size of its previously announced private placement from $800,000 to $1,200,000. The offering will comprise 24 million flow-through units, at a price of five cents per flow-through unit. Each flowthrough unit will be comprised of one flow-through common share and one transferable non-flow-through common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of $0.08 per share, for a two year period.
The proceeds from the sale of the flow-through units will be expended on the company's properties located in British Columbia.
The company might pay finders' fees in connection with the private placement, in accordance with TSX Venture Exchange policies.
Certain directors and officers of the company may participate in the private placement. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to, nor the consideration paid by, such persons will exceed 25 per cent of the company's market capitalization.
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.