Decade Announces $1.2 Million Over Subscribed Private Placement; Eric Sprott to Purchase 10 Million Units
Stewart, July 6, 2020 - Decade Resources Ltd. (TSXV: DEC) has arranged, subject to approval from the TSX Venture Exchange, a non-brokered private placement of up to 24 million units for gross proceeds of up to $1.2-million. The offering will comprise 24 million flow-through units, at a price of five cents per flow-through unit. Each flowthrough unit will be comprised of one flow-through common share and one transferable non-flow-through common share purchase warrant, each warrant being exercisable for the purchase of one additional common share, at a price of $0.08 per share, for a two year period.
Mr. Eric Sprott has agreed to invest $500,000 in the private placement, for the acquisition of 10 million units.
Ed Kruchkowski, president of Decade, commented: "We are very pleased to welcome Mr. Sprott as a key shareholder in our company. His investment is a strong endorsement of our exploration efforts in testing the gold-silver potential of the Del Norte property optioned from Teuton Resources Corp.."
The proceeds of the private placement will be used for an exploration program at the Del Norte gold-silver project. Finders' fees may be paid on the offering pursuant to the policies of the TSX Venture Exchange. All securities issued will be subject to a four-month hold period, which will expire on the date that is four months and one day from the date of issue.
The Del Norte property was optioned from Teuton Resource Corp. in January of 2020 with terms allowing the Company to earn up to a 55% interest in the property by spending $4 million over a five year period. The Company can an earn an additional
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. E. Kruchkowski is not independent of Decade as he is the president of the Company.
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."
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