Maxwell A. Munday Announces Changes to His Holdings in Decade Resources Ltd.

Rhea-AI Summary

Maxwell A. Munday has acquired 19,000,000 shares and 19,000,000 warrants of Decade Resources (DECXF) through a non-brokered private placement on October 1st, 2024. The purchase was made at 3.5¢ per unit, totaling $665,000. Following this acquisition, Munday now owns or controls:

- 22,500,000 shares (17.56% of Decade's 128,132,690 outstanding shares)
- 31,000,000 warrants (49.40% of Decade's 62,757,813 outstanding warrants)

Munday states that the securities were acquired for investment purposes and may adjust his holdings based on market conditions and other factors. This announcement is in compliance with National Instrument 62-103, and an Early Warning Report has been filed on SEDAR.

AI-generated analysis. Not financial advice.

Positive

• Significant investment of $665,000 in Decade Resources
• Munday now owns 17.56% of Decade's outstanding shares
• Munday controls 49.40% of Decade's outstanding warrants

Negative

• Potential for significant shareholder dilution due to large warrant position

News Market Reaction – DECXF

+54.47%

1 alert

+54.47% News Effect

On the day this news was published, DECXF gained 54.47%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

New Westminster, British Columbia--(Newsfile Corp. - October 2, 2024) - On October 1st, 2024, Maxwell A. Munday ("Munday") acquired ownership or control or direction of 19,000,000 shares and 19,000,000 warrants of Decade Resources Ltd. ("Decade") via a non-brokered private placement, at 3.5¢ per unit, for a total purchase price of $665,000.

Munday now owns or controls or directs 22,500,000 shares, representing 17.56% of Decade's 128,132,690 now issued and outstanding shares.

Munday now owns or controls or directs 31,000,000 warrants, representing 49.40% of Decade's 62,757,813 now issued and outstanding warrants.

The shares and warrants were acquired for investment purposes. Munday may increase or decrease his ownership or control or direction of the Issuer's securities depending on market conditions, investment performance, reformulation of plans, and other relevant factors.

This news release is being issued as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The Early Warning Report respecting this acquisition has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under the company profile of Decade Resources Ltd.

For further information, please contact: 

Maxwell A. Munday

Suite 450 - 555 Sixth St.
New Westminster, BC
V3L 5H1
604-430-5624

/s/ "Maxwell A. Munday"
Maxwell A. Munday

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225371

FAQ

How many shares and warrants of Decade Resources (DECXF) did Maxwell A. Munday acquire on October 1st, 2024?

Maxwell A. Munday acquired 19,000,000 shares and 19,000,000 warrants of Decade Resources (DECXF) on October 1st, 2024.

What percentage of Decade Resources (DECXF) outstanding shares does Maxwell A. Munday now own?

Maxwell A. Munday now owns 17.56% of Decade Resources (DECXF) outstanding shares, which amounts to 22,500,000 shares.

What was the price per unit in Maxwell A. Munday's private placement in Decade Resources (DECXF)?

The price per unit in Maxwell A. Munday's private placement in Decade Resources (DECXF) was 3.5 cents.

What percentage of Decade Resources (DECXF) outstanding warrants does Maxwell A. Munday now control?

Maxwell A. Munday now controls 49.40% of Decade Resources (DECXF) outstanding warrants, which amounts to 31,000,000 warrants.