Stewart, British Columbia--(Newsfile Corp. - November 7, 2024) - Decade Resources Ltd (TSXV: DEC) ("Decade" or the Company) is pleased to announce a non-brokered private placement of flow-through shares to raise aggregate gross proceeds of up to $910,000.
The flow-through offering will comprise of 18,200,000 flow-through units, at a price of $0.05 per flow-through unit, for gross proceeds of $910,000. Each unit will comprise one common share and one transferable common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of $0.08 per share, for a 24-month period. The federal proposal for the Mineral Exploration Tax Credit (METC) provides an additional income tax benefit for individuals who invest in mining flow-through shares, which augments the tax benefits associated with the deductions that are flowed through. The METC is equal to 15 per cent of specified mineral exploration expenses incurred in Canada and renounced to flowthrough share investors. The proposed 2022 Budget proposed to introduce a new 30-percent Critical Mineral Exploration Tax Credit (CMETC) for specified minerals. The specified minerals that would be eligible for the CMETC are: copper, nickel, lithium, cobalt, graphite, rare earth elements, scandium, titanium, gallium, vanadium, tellurium, magnesium, zinc, platinum group metals and uranium. These minerals are used in the production of batteries and permanent magnets, both of which are used in zero-emission vehicles or are necessary in the production and processing of advanced materials, clean technology, or semi-conductors.
Finders' fees may be payable in connection with the private placement.
The proceeds from the sale of the flow-through shares will be expended on the company's projects located in British Columbia.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
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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