Decade Resources Ltd.
TSX VENTURE : DEC

Decade Resources Ltd.

November 15, 2010 17:40 ET

Decade Closes Tranche 1 of Non-Brokered Private Placement; Raises $2,243,750

STEWART, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2010) - Decade Resources Ltd. (the "Company")(TSX VENTURE:DEC) is pleased to announce it has received TSX Venture Exchange approval for and closed Tranche 1 of a private placement to raise up to $3,500,000 (previously announced in the Company's news releases dated October 6 and November 1, 2010). Tranche 1 consisted of 5,815,000 flow-through units, at a price of $0.30 per flow-through unit and 1,997,000 non-flow-through units, at a price of $0.25 per non-flow-through unit to raise total proceeds of $2,243,750. 

Tranche 2 will consist of up to 4,185,000 flow-through units, at a price of $0.30 per flow-through unit.

All of the shares and warrants, and any shares issued upon the exercise of the warrants comprising the units issued under Tranche 1, are subject to a hold period and may not be traded in Canada until March 13, 2011, except as permitted by applicable Canadian securities laws. 

Finders' fees of $130,125 were paid in connection with the private placement.

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) 636-9233 (FAX)