Decade Resources Ltd.
TSX VENTURE : DEC

Decade Resources Ltd.

March 24, 2010 12:04 ET

Decade Resources Ltd.: Flow-Through Non-Brokered Private Placement to Raise up to $2,000,000

STEWART, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - Decade Resources Ltd. (TSX VENTURE:DEC) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

The Company is pleased to announce it has agreed to complete a private placement to raise proceeds of up to $2,000,000. It has been agreed the offering will be comprised of 8,000,000 flow-through units, at a price of $0.25 per unit. The units will be comprised of one flow-through common share and one-half of one non-flow-through warrant, each whole warrant being exercisable for the purchase of one additional share, at a price of $0.35 per share, for a one year period or, if the trading price of the Company's shares on the TSX Venture Exchange for 20 consecutive trading days exceeds $0.75 per share during the exercise period, the expiry time of the warrants shall be accelerated such that the expiry time will be 30 calendar days from the date of express written notice is sent by the Company to the holder by way of registered mail, provided the Company may not provide such notice until four months and a day after the date of issuance of the units.

Proceeds of the offering will be expended on mineral exploration on the Company's properties located in British Columbia.

Finders' fees are payable on part of the offering in accordance with TSX Venture Exchange policy.

Decade Resources Ltd. is a Canadian-based mineral exploration company whose activities are in the Stewart area of British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS

"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.

Contact Information

  • Decade Resources Ltd.
    Andrew Bowering
    604-681-0710
    or
    Decade Resources Ltd.
    John Van Duzen
    604-681-0710