Decade Resources arranges $1.5-million financing

Executive Summary

• Decade Resources Ltd. has arranged a non-brokered private placement financing with total gross proceeds of up to $1.5 million.
• The financing consists of 32.5 million flow-through (FT) units and 5 million non-flow-through (NFT) units, both priced at $0.04 per unit.
• Proceeds are designated for project expenditures in British Columbia (FT units) and general working capital/corporate purposes (NFT units).

Key Details

• Total Gross Proceeds: Up to $1.5 million.
• Flow-Through (FT) Units:
  • Quantity: 32.5 million units.
  • Price: $0.04 per unit.
  • Gross Proceeds: $1.3 million.
  • Composition: One flow-through common share and one common share purchase warrant.
  • Use of Proceeds: Expenditure on company projects located in British Columbia.
• Non-Flow-Through (NFT) Units:
  • Quantity: 5 million units.
  • Price: $0.04 per unit.
  • Gross Proceeds: $200,000.
  • Composition: One common share and one common share purchase warrant.
  • Use of Proceeds: General working capital and corporate purposes.
• Warrant Terms (FT Units):
  • Entitlement: Purchase one non-flow-through common share.
  • Exercise Price: $0.06 per share.
  • Duration: Two years from the date of issuance.
• Warrant Terms (NFT Units):
  • Entitlement: Purchase one additional common share.
  • Exercise Price: $0.05 per share.
  • Duration: Three years from the date of issuance.
• Finders' Fees:
  • Cash Commission: 8% of gross proceeds from applicable subscriptions.
  • Finders' Warrants: 8% of the number of applicable units sold.
  • Finder's Warrant Terms: Exercisable to acquire one common share at $0.06 per share for two years; non-transferable.
• Regulatory Conditions:
  • Subject to acceptance by the TSX Venture Exchange.
  • All securities subject to a four-month hold period from issuance.

Notable Quotes

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