Stewart, British Columbia–September 9, 2024– Decade Resources Ltd. (TSXV: DEC) has announced a non-brokered private placement of 30,000,000 units at a price of $0.03 per unit, resulting in gross proceeds of $900,000. Each unit will include one common share and one share purchase warrant, with each whole share purchase warrant exercisable for twenty-eight months at $0.06 per share.
The company plans to allocate the majority of the proceeds towards general working capital purposes. A portion, not exceeding 10%, may be used for exploration on its BC Properties. The funds will not be utilized for payments to non-arm’s-length parties of the company, except for normal course compensation of officers, directors, employees, and consultants in the course of general working capital purposes or investor relations activities.
Finders’ fees of 8% in cash and 8% in finders’ warrants will be paid to certain investors in connection with the private placement. The financing is subject to TSX-V approval and the units will be subject to a statutory hold period of four months plus a day from the issuance date, in accordance with applicable securities legislation.
Decade Resources Ltd. is a Canadian mineral exploration company focusing on opportunities in the resource sector. The company holds a portfolio of properties at various stages of development and exploration in the “Golden Triangle” area of northern British Columbia. For more information about the company’s assets and developments, visit their website at www.decaderesources.ca. Investors can also contact the company at 250-636-2264 or Gary Assaly at 604-377-7969.
Ed Kruchkowski, President of Decade Resources Ltd., expressed optimism about the private placement, noting that the TSX Venture Exchange and its Regulation Services Provider do not take responsibility for the adequacy or accuracy of the release. The news release may contain forward-looking statements, which address future events and conditions and involve inherent risks and uncertainties. Actual results may differ from those currently anticipated.
To access the source version of this press release, please visit the following link: https://www.newsfilecorp.com/release/222743.
SOURCE: Decade Resources Ltd.
