Decade Resources closes $255,000 private placement

Executive Summary

• Decade Resources Ltd. closed a private placement of 8.5 million units at $0.03 per unit, raising total gross proceeds of $255,000.
• Each unit includes one common share and one transferable warrant exercisable at $0.05 per share for five years; the company also issued 680,000 finder’s warrants and paid a cash finder's fee of $20,400.
• The majority of the funds will be used for general working capital, with up to 10 % potentially allocated to exploration on its British Columbia properties.

Key Details

• Units Issued: 8.5 million units (each = 1 common share + 1 transferable warrant).
• Price per Unit: $0.03 → Gross Proceeds: $255,000.
• Warrant Terms (unit warrants): Exercisable for one additional common share at $0.05 per share; five‑year term.
• Use of Proceeds: Primarily general working capital; ≤ 10 % may be directed to exploration on BC properties; no funds earmarked for non‑arm’s‑length payments beyond normal compensation and investor relations activities.
• Statutory Hold Period: Securities subject to a four‑month hold period, expiring January 17, 2026.
• Finder’s Compensation: Cash fee of $20,400 paid; 680,000 finder’s warrants issued with a two‑year term at $0.05 per warrant.

Notable Quotes

(No CEO/President quotes were provided in the release.)