Decade Announces Non-Brokered Private Placement
Decade Resources Ltd.
426 King Street
Stewart, BC
V0T 1W0
TSX.V Trading Symbol: DEC
NEWS RELEASE
July 6, 2023
DECADE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Stewart, BC – Decade Resources Ltd (“Decade” or the Company) is pleased to
announce a non-brokered private placement of flow-through shares to raise aggregate
gross proceeds of up to $273,400.
The flow-through offering will comprise up to 2,485,455 flow-through units, at a price of
$0.11 per flow-through unit, for gross proceeds of up to $273,400. Each unit will comprise
one common share and one transferable common share purchase warrant, each warrant
being exercisable for the purchase of one additional common share, at a price of $0.135
per share, for a 24-month period. The federal proposal for the Mineral Exploration Tax
Credit (METC) provides an additional income tax benefit for individuals who invest in
mining flow-through shares, which augments the tax benefits associated with the
deductions that are flowed through. The METC is equal to 15 per cent of specified mineral
exploration expenses incurred in Canada and renounced to flow-through share investors.
The proposed 2022 Budget proposes to introduce a new 30-per-cent Critical Mineral
Exploration Tax Credit (CMETC) for specified minerals. The specified minerals that would
be eligible for the CMETC are: copper, nickel, lithium, cobalt, graphite, rare earth
elements, scandium, titanium, gallium, vanadium, tellurium, magnesium, zinc, platinum
group metals and uranium. These minerals are used in the production of batteries and
permanent magnets, both of which are used in zero-emission vehicles or are necessary
in the production and processing of advanced materials, clean technology, or semi-
conductors.
The proceeds from the sale of the flow-through shares will be expended on assessment
work for the company's properties located in British Columbia.
Finders' fees of 8% cash and 8% finders’ warrants will be paid in connection with the
private placement for certain investors.
With regards to the private placement that the Company closed on May 18, 2023, the
Company would like to mention two items that were missed in the closing news release.
A total of 240,000 shares were purchased by an officer of the company in the private
placement. Any such participation would be considered to be a related party transaction
as defined under Multilateral Instrument 61-101. The transaction will be exempt from the
formal valuation and minority shareholder approval requirements of MI 61-101 as neither
the fair market value of any shares issued to or the consideration paid by such persons
will not exceed 25 per cent of the company's market capitalization. Also, the expiry date
for the finder’s warrants that were issued is May 18, 2025.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is
responsible for the contents of this release. E. Kruchkowski is not independent of Decade
as he is the president of the Company.
Decade Resources Ltd. is a Canadian based mineral exploration company actively
seeking opportunities in the resource sector. Decade holds numerous properties at
various stages of development and exploration 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.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
“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.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently
anticipated in such statements.”