Decade Resources Ltd V.DEC

There is something more cooking Private Placement NR

[Countrygent]

NEWS RELEASE November 4, 2022

DECADE ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH AND NON-FLOW-THROUGH UNITS

Stewart, BC – Decade Resources Ltd. (“Decade” or the Company) has closed a non- brokered private placement of flow-through and non-flow-through units to raise aggregate gross proceeds of $922,000.

A total of 2,683,334 flow-through units were issued at the price of 12 cents per unit to raise $322,000 and 6,000,000 non-flow-through units were issued at the price of 10 cents per unit to raise $600,000. Each flow-through unit consists of one flow-through common share of the company and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 42 months, one additional common share of the company, at a price of 16 cents per share. Each non flow- through unit consists of one common share of the company and one transferable common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the company, at a price of 16 cents per share.

All of the shares and warrants, and any shares issued upon exercise of the warrants comprising the units, are subject to a hold period and may not be traded in Canada until March 3, 2023, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

In consideration for introducing certain subscribers to the private placement, the company paid a cash finder’s fee totaling $26,000 and issued 166,667 warrants at $0.16 to certain finders.
 

Which for the long suffering, roll-back bruised, might just look like some shuffle and two-step to keep the lights on.  Except, have a gander at your insider tracker of choice and what wily old fox appears to have bought 5 million non-flow-through units but Ross Beaty.  At a dime for $500,000.  Now I realize he can walk up to the roulette wheel and make a big bet without breaking a sweat, but unless he owes Ed a big favour for some long gone deal ... maybe he was primed into interest on legit grounds.  

Time will tell.  It's peanuts relatively speaking but attention  and interest is good.  

cg

[ggrellette]

Wow, the market over paid for this subscription that is a definite. 10 or 12 cents is definitely overvalued. Not much money for exploration/drilling because paycheques will be part of that PP of money. Less then $1 million will limit their ability to drill extemsively. They better be accurate in what targets they drill.