Decade Resources Ltd.
TSX VENTURE : DEC

Decade Resources Ltd.

April 01, 2010 13:34 ET

Decade Increases Private Placement to Up to $2,250,000

STEWART, BRITISH COLUMBIA--(Marketwire - April 1, 2010) - Decade Resources Ltd. (TSX VENTURE:DEC) -

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

The Company reports that it has increased the amount of its non-brokered private placement from up to 8,000,000 units (the "Units") to up to 9,000,000 units.

Each Unit is priced at $0.25 per Unit to raise total proceeds of up to $2,250,000, up from the originally announced proceeds of up to $2,000,000.

The Offering was first announced in a news release dated March 24, 2010.

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.

In addition, the Company reports the granting of 400,000 incentive stock options to certain directors, officers, employees and consultants of the Company at a price of $0.27 per common share, exercisable for a 5 year period.

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