Stewart, BC – Further to its news release dated December 12, 2018, Decade Resources Ltd. (“Decade” or the “Company“) is pleased to announce that the Company has received regulatory approval from the TSX Venture Exchange (the “Exchange“) in connection with the option agreement dated December 12, 2018 (the “Agreement“) with Scottie Resources Corp. (formerly, Rotation Minerals Ltd.) (the “Optionee“).
Pursuant to the terms of the Agreement, the Company has granted the Optionee an exclusive option to acquire a 100% interest in the Bow Claims, situated in the Skeena Mining District in British Columbia (the “Property“). In order to exercise the option, the Optionee must pay a total of $1,000,000 to the Company in five equal installments over a 2 year period, subject to a 3% net smelter return royalty.
Edward R. Kruchkowski serves as a director of the Company and the Optionee, and is considered a Non Arm’s Length Party, in accordance with Exchange policies. As such, Mr. Kruchkowski has abstained from voting on all matters relating to the transaction.