Decade Announces Non-Brokered Private Placement

Rhea-AI Summary

Decade Resources (TSXV: DEC) has announced a non-brokered private placement of 30,000,000 units at $0.03 per unit, aiming to raise $900,000. Each unit includes one common share and one share purchase warrant, exercisable at $0.06 per share for 28 months. The majority of proceeds will be used for general working capital, with potential allocation of over 10% towards exploration of BC Properties. The company will pay 8% finders' fees in cash and warrants for certain investors. The private placement is subject to TSX-V approval and a four-month statutory hold period. Decade Resources focuses on mineral exploration in British Columbia's 'Golden Triangle' area.

Positive

• Raising $900,000 through private placement
• Potential for additional capital through warrant exercise at $0.06 per share
• Flexibility to allocate funds for exploration of BC Properties

Negative

• Dilution of existing shareholders' ownership
• 8% finders' fees reducing net proceeds
• Subject to TSX-V approval, which may delay or prevent the financing

News Market Reaction – DECXF

-14.29%

1 alert

-14.29% News Effect

On the day this news was published, DECXF declined 14.29%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Stewart, British Columbia--(Newsfile Corp. - September 9, 2024) - Decade Resources Ltd. (TSXV: DEC) ("Decade" or the Company) is pleased to announce a non-brokered private placement of 30,000,000 units (the "Units") at a price of $0.03 per Unit, for gross proceeds of $900,000 (the "Private Placement"). Each Unit will consist of one common share and one share purchase warrant, each whole share purchase warrant being exercisable for a period of twenty-eight months at a price of $0.06 per share.

It is expected that the majority of the proceeds will be used for general working capital purposes. The Company may use more then 10% of the funds towards exploration on its BC Properties. None of the proceeds from the financing will be used for payments to non-arm's-length parties of the company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes, or to persons conducting investor relations activities.

Finders' fees of 8 per cent in cash and 8 per cent in finders' warrants will be paid in connection with the private placement for certain investors.

The financing is subject to TSX-V approval. The Units shall be subject to the statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

Decade Resources Ltd. 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 grass roots 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 at www.decaderesources.ca which is presently being updated. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.

ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.

"Ed Kruchkowski"
Ed Kruchkowski, President

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222743

FAQ

What is the price per unit in Decade Resources' (TSXV: DEC) private placement?

Decade Resources (TSXV: DEC) is offering units at a price of $0.03 per unit in its non-brokered private placement.

How much is Decade Resources (TSXV: DEC) aiming to raise through this private placement?

Decade Resources (TSXV: DEC) is aiming to raise gross proceeds of $900,000 through this non-brokered private placement.

What are the terms of the warrants included in Decade Resources' (TSXV: DEC) private placement units?

Each unit includes one share purchase warrant, exercisable for 28 months at a price of $0.06 per share.

How will Decade Resources (TSXV: DEC) use the proceeds from the private placement?

The majority of the proceeds will be used for general working capital purposes, with the possibility of allocating over 10% towards exploration on its BC Properties.