Decade Resources (DEC-V) June 15, '18 has closed its previously announced non-brokered private placement of flow-through and non-flow-through units.
The company issued a total of 4,615,385 flow-through units at a price of 6.5 cents per flow-through unit for gross proceeds of $300,000. Each flow-through unit comprises one flow-through common share and one transferable non-flow-through warrant. Each warrant is exercisable for the purchase of one additional common share at a price of eight cents per share for a period of 30 months.
The company also issued a total of 22,195,000 non-flow-through units at a price of five cents per non-flow-through unit for gross proceeds of $1,109,750. Each non-flow-through unit comprises one common share and one transferable warrant. Each warrant is exercisable for the purchase of one additional common share at a price of seven cents per share for a period of 30 months.
The aggregate proceeds from the sale of flow-through and non-flow-through units totalled $1,409,750. The proceeds from the sale of the flow-through units will be expended on the company's properties located in British Columbia. The proceeds from the sale of non-flow-through units will be used for working capital purposes.
No finders' fees or commissions were paid in connection with the private placement.
All warrants and shares, including any shares issued upon exercise of the warrants comprising the units, are subject to a hold period until Oct. 16, 2018, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
BY ORDER OF THE BOARD OF DIRECTORS OF
DECADE RESOURCES LTD
"Randolph Kasum"
Randolph Kasum,
Director
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