Decade Resources plans $2.17M flow-through private placement

Decade Resources Ltd. (TSXV: DEC) announced plans to raise up to $2,170,000 through a non-brokered flow-through private placement, according to a press release from the Stewart, British Columbia-based company.

The offering involves the issuance of up to 14,466,666 flow-through units at $0.15 per unit. Each unit consists of one flow-through common share and one warrant, with each warrant exercisable to purchase one additional common share at $0.25 for two years from the date of issuance.

Proceeds will be used to fund eligible Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada), applied to the company's mineral exploration properties in British Columbia. The company intends to renounce qualifying expenditures to subscribers with an effective date no later than December 31, 2026.

The company may pay finders' fees of 8% of gross proceeds in cash, as well as finders' warrants equal to 8% of units sold to introduced subscribers. Each finder's warrant would be exercisable at $0.15 per share for two years from issuance.

All securities issued under the offering are subject to a statutory hold period of four months and one day under Canadian securities laws. The offering remains subject to TSX Venture Exchange acceptance and other required regulatory approvals, and may be completed in one or more tranches.

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