23:26:51 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Decade Resources Ltd (3)
Symbol DEC
Shares Issued 73,237,726
Close 2023-08-09 C$ 0.19
Market Cap C$ 13,915,168
Recent Sedar Documents

Decade Resources arranges $300,000 private placement

2023-08-10 12:07 ET - News Release

Mr. Ed Kruchkowski reports

DECADE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT BACKED BY INSIDERS

Decade Resources Ltd. has arranged a non-brokered private placement of flow-through shares to raise aggregate gross proceeds of up to $300,000.

The flow-through offering will comprise 1.5 million flow-through units, at a price of 20 cents per flow-through unit, for gross proceeds of $300,000. Each unit will comprise one flow-through 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 30 cents 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 flow-through share investors. The proposed 2022 budget proposes to introduce a new 30-per-cent 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.

Edward Kruchkowski and Randolph Kasum will be participating for the full amount of the private placement.

The proceeds from the sale of the flow-through shares will be expended on the company's Nobody Knows copper property located in British Columbia.

Mr. Kruchkowski, PGeo, a qualified person under National Instrument 43-101 is responsible for the contents of this release. Mr. Kruchkowski is not independent of Decade, as he is the president of the company.

About Decade Resources Ltd.

is a Canadian-based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grassroots to advanced ones. Its properties and projects are all located in the Golden Triangle area of Northern British Columbia.

We seek Safe Harbor.

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