Decade Announces Non-Brokered Private Placement of Flow-Through Units
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DECADE RESOURCES LTD.
611 - 8th Street
Stewart, British Columbia, V0T 1W0
Telephone: (250) 636-2264 Fax: (250) 636-2265
NEWS RELEASE
September 14, 2020 TSX-V: DEC
Decade Announces Non-Brokered Private Placement of Flow-Through Units
Stewart, BC – Decade Resources Ltd. (the “Company”) announces it is using its best
efforts to complete a non- brokered private placement of flow- through units to raise
aggregate gross proceeds of up to $1,000,000 and non flow through units to raise up to
$100,000.
The flow-through offering will be comprised of up to 1 0,000,000 flow-through units, at a
price of $ 0.10 per flow -through unit , for gross proceeds of up to $1 ,000,000 and
1,000,000 non flow through units at a price of $ 0.10 for gross proceeds of $100,000 .
Each flow-through unit will be comprised of one flow -through common share and one
transferable non- flow-through common share purchase warrant, each warrant being
exercisable for t he purchase of one additional common share, at a price of $0. 12 per
share, for a two- year period. Each non flow-through unit will be comprised of one
common share and one t ransferable non- flow-through common share purchase
warrant, each warrant being exerc isable for the purchase of one additional common
share, at a price of $0.12 per share, for a two-year period.
Based on the positive visual results of drilling on the D el Norte, the Company has
decided to increase the work program to follow up on both visua l surface results as well
as visual drill results. Assays are delayed from laboratories due to the great demand
occurring over a short period of time. Assay t urn around is expected to be 7- 8 weeks
based on discussions with laboratories.
To date approximately 4000m of NQ drilling has been completed in 16 drill holes testing
the Kosciuszko, LG Deep and Eagle’s Nest zones. The Company plans further holes in
excess of 300 m to test the depth extension of the LG D eep mineralization. Past drilling
has indicated that mineralized systems in the Argo deformation zone ( LG Deep and LG
vein) are silver rich with significant gold values over wide intersections. In addition,
surface work on the Lord Nelson has been successful in outlining copper mineralization
over a wide area. With significant gold associated with the copper, the Company plans
more channel saw cuts, mapping, sampling and drilling the Del Norte/Lord Nelson
boundary area.
Mr. Eric Sprott has agreed to invest $500,000 in the private placement, for the a cquisi-
tion of 5 million units.
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Certain directors and officers of the Company may participate in the private placement.
Any such participation would be considered to be a “related party transaction” as
defined under Multilateral Instrument 61- 101 (“MI 61- 101”). The transaction will be
exempt from the formal valuation and minority shar eholder approval requirements of MI
61-101 as neither the fair market value of any units issued to or the consideration paid
by such persons will not exceed 25% of the Company’s market capitalization. Finders’
fees may be payable in connection with the private placement.
Decade Resources Ltd. is a Canadian based mineral exploration company actively
seeking opportunities in the resource sector. Decade holds numerous properties at va r-
ious stages of development and explorat ion from basic grass roots to advanced ones.
Its properties and projects are all located in the “Golden Triangle” area of northern
British Columbia. For a complete listing of the Company assets and developments, visit
the Company website at www. decaderesources.ca which is presently being updated.
For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.
BY ORDER OF THE BOARD OF DIRECTORS OF
DECADE RESOURCES LTD
"Ed Kruchkowski"
Ed Kruchkowski,
Director
“Neither the TSX V enture 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.”
This news release may contai n forward –looking information . For ward-looking information addresses future events and conditions and
therefore involves inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.