APPROVAL OF SHARES IN SETTLEMENT OF DEBT
The Company is pleased to announce it has received TSX Venture Exchange approval for and closed its shares for debt of 11,710,288 common shares, at a deemed price of $0.05 per share, to satisfy debt in the amount of $585,514.40, as initially announced in its news release of May 13, 2016. A total of 10,556,410 shares were issued to related parties.
These shares are subject to a hold period expiring October 1, 2016, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
NATIONAL INSTRUMENT 62-103 REPORT DISCLOSURE
The Company is advised that Edward Kruchkowski, of 23 Templeside Bay N.E., Calgary, Alberta, T1Y 3L6, has acquired ownership of 3,495,400 common shares of the Company, of which 3,055,400 shares were acquired through K-6 Consulting Group Ltd. and 440,000 were acquired directly, at a deemed purchase price of $0.05 per share. Mr. Kruchkowski is a director and officer of the Company and he owns 100% of the issued shares of K-6 Consulting Group Ltd.
Mr. Kruchkowski owns 4,327,819 common shares of the Company, 800,000 stock options, which are exercisable until February 23, 2020 at an exercise price of $0.08 per share, 450,000 stock options, which are exercisable until May 13, 2021 at an exercise price of $0.06 per share, and 120,000 stock options which are exercisable until October 5, 2016 at $0.75 per share. Mr. Kruchkowski also owns 230,769 share purchase warrants which are exercisable until September 26, 2016, at an exercise price of $0.13 per share. Mr. Kruchkowski's shares represent 5.74% of the Company's issued and outstanding common shares or 7.7% on a partially-diluted basis assuming the exercise of his stock options and share purchase warrants. K-6 Consulting Group Ltd. and Mr. Kruchkowski's wife, Hopi Kruchkowski, are deemed to be associates of Mr. Kruchkowski pursuant to Multilateral Instrument 62-104. K-6 Consulting Group Ltd. owns 3,603,400 common shares of the Company and Mrs. Kruchkowski owns 1,950,000 common shares of the Company. Mr. Kruchkowski and his associates collectively own 9,881,219 common shares, representing 13.11% of the Company's issued and outstanding common shares or 14.92% on a partially diluted basis assuming the exercise of Mr. Kruchkowski's stock options and share purchase warrants.
For copies of the early warning reports, please contact Mr. Kruchkowski at (250) 636-9283.
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."
"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."