The Company is pleased to announce it has agreed to complete a private placement to raise proceeds of $750,000. It has been agreed the offering will be comprised of 2,500,000 flow-through units at a price of $0.30 per unit. The units will be comprised of one common share and one-half of one non-flow-through warrant, with each whole warrant being exercisable for the purchase of an additional share, at a price of $0.35 per share, for a two 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.
The Company has agreed to pay cash commission of 6% of the proceeds raised.
Decade Resources Ltd. is a Canadian-based mineral exploration company whose activities are in the Stewart area of British Columbia. Proceeds of the financing will be used to further explore the Montrose zone on the Red Cliff property as well as further define the area of intense alteration and mineralization on the Wedeene property as outlined below.
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.