Stewart, British Columbia--(Newsfile Corp. - September 18, 2024) - Decade Resources Ltd. (TSXV: DEC) ("Decade" or the Company) is increasing the size of its previously announced non-brokered private placement (the "Private Placement"), previously announced on September 9, 2024 and September 11, 2024.
The Company will now issue 29,714,286 units (the "Units") at a price of $0.035 per Unit, for gross proceeds of $1,040,000 (the "Private Placement"). Each Unit will consist of one common share and one share purchase warrant, each whole share purchase warrant being exercisable for a period of five years at a price of $0.06 per share.
It is expected that the majority of the proceeds will be used for general working capital purposes. The Company may use more then 10% of the funds towards exploration on its BC Properties. None of the proceeds from the financing will be used for payments to non-arm's-length parties of the company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes, or to persons conducting investor relations activities.
Finders' fees of 8 per cent in cash and 8 per cent in finders' warrants will be paid in connection with the private placement for certain investors.
The financing is subject to TSX-V approval. The Units shall be subject to the statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
"Ed Kruchkowski"
Ed Kruchkowski, President
"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."
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