Mr. Ed Kruchkowski reports
DECADE RESOURCES CLOSES OVERSUBSCRIBED FLOW THROUGH PRIVATE PLACEMENT FOR TOTAL GROSS PROCEEDS OF $308,500
Decade Resources Ltd. has closed its previously announced flow-through private placement.
A total of 8,814,286 flow-through units were issued on a private placement basis at a price of 3.5 cents per unit, for aggregate gross proceeds of $308,500. Each unit comprised one flow-through common share and one transferable non-flow-through common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of five cents per share, for a 24-month period.
Proceeds from the sale of flow-through units will be utilized for incurring flow-through expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures as defined in the Income Tax Act (Canada). Flow-through proceeds will be spent on the company's British Columbia properties.
All securities that were issued are subject to a statutory hold period of four months from the date of issuance, expiring Oct. 14, 2025, in accordance with applicable securities laws.
In consideration for introducing certain subscribers to the private placement, the company paid cash finders' fees totalling $16,200 and issued 462,857 warrants at five cents to the finders. The warrants are exercisable for a 24-month period.
Decade Resources 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. For a complete listing of the company assets and developments, visit the company website, which is presently being updated.
We seek Safe Harbor.
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