Decade Resources Ltd.
TSX VENTURE : DEC

Decade Resources Ltd.

October 19, 2009 11:51 ET

Decade Resources Ltd.: Financing Updates

STEWART, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2009) - Decade Resources Ltd. (TSX VENTURE:DEC) -

$300,000 Non-Brokered Private Placement

Further to the Company's news releases dated August 26, 2009 and September 30, 2009, the Company reports it has closed its $300,000 private placement. All of the shares, warrants and any shares issued upon the exercise of the warrants comprising the units, and any shares issued as a finder's fee, are all subject to a hold period and may not be traded in Canada until February 16, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange. A finder's fee of 39,938 units was paid in connection with the private placement. The finder's fee units have the same terms as the private placement units.

Closing of First Tranche of a Non-Brokered Private Placement with MineralFields Group in the Amount of $1,400,000

Further to the Company's news release dated September 16, 2009, the Company reports it has closed its $1,400,000 private placement. All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units and any shares issued upon exercise of the compensation options and underlying warrants, are subject to a hold period and may not be traded in Canada until February 9, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

$400,500 Non-Brokered Private Placement

The second tranche of the private placement announced on September 16, 2009, totaling $400,500 and involving insiders of the Company, is anticipated to close this week, following the receipt of regulatory approval.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrew Bowering, Chief Financial Officer/Director

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.

Contact Information

  • Decade Resources Ltd.
    Andrew Bowering
    Chief Financial Officer/Director
    (250) 636-9232
    (250) 636-2446 (FAX)