Decade Resources Ltd. Announces $2.17 Million Flow-Through Private Placement
Decade raises $2.17m at a $0.15 premium to fund exploration at its British Columbia projects.
Decade Resources Ltd. (DEC) has announced a non-brokered flow-through private placement designed to raise up to $2,170,000 in gross proceeds. The offering comprises up to 14,466,666 flow-through units, each priced at $0.15. Every unit consists of one flow-through common share and one common share purchase warrant.
The warrants carry an exercise price of $0.25 per share and are exercisable for a period of two years from the date of issuance. The company intends to use the gross proceeds to incur eligible Canadian exploration expenses (CEE) on its mineral exploration properties in British Columbia. Expenditures are expected to be renounced to subscribers by December 31, 2026.
Finder’s fees for the transaction include 8% cash commissions and 8% in non-transferable finder’s warrants. These warrants are exercisable at $0.15 for two years. The offering is subject to acceptance by the TSX Venture Exchange and standard regulatory approvals. All securities issued carry a four-month-and-one-day statutory hold period.
Decade Resources Ltd. (DEC) has secured approximately $2.17 million in fresh capital through a financing deal. The transaction, priced at $0.15 per share, represents a 50% premium to the company’s recent market price of $0.10. This structure is standard for Canadian exploration companies and aligns with Decade Resources’ aggressive exploration mandate at the Bonaparte and Nobody Knows projects.
The capital raise is expected to extend the company’s cash runway by roughly three to four quarters, based on a quarterly operating burn rate of approximately $500,000 to $700,000. Dilution from the offering is approximately 7.3% on a fully diluted basis, including existing warrants and options.
Decade Resources Ltd. (DEC) is an exploration-stage company focused on gold, silver, copper, and base metals across multiple properties in British Columbia. Its flagship asset is the Bonaparte project, in which it holds an 80% interest. Bonaparte is a large porphyry copper-gold target featuring a 3x4 km induced polarization (IP) chargeability anomaly. Recent drilling has intersected textbook porphyry alteration sequences, ranging from propylitic to potassic to mineralized feldspar porphyry.
The company’s other assets include the Nobody Knows property, characterized by high-grade Au-Ag base metal boulders with anomalous arsenic and bismuth signatures; the Del Norte project, which hosts high-grade Au-Ag veins and is subject to a 55% earned interest; the North Mitchell project, an epithermal Au-Ag deposit with a 70% interest; and the Red Cliff project, a gold shear zone with a 65% interest. Management is led by President Ed Kruchkowski, a geologist with 51+ years of exploration experience who also serves as the Qualified Person under NI 43-101.