Core Points - Decade Resources Ltd. has successfully closed an oversubscribed flow-through private placement, raising total gross proceeds of $308,500 [1][2]. Group 1: Financial Details - A total of 8,814,286 flow-through units were issued at a price of 3.5 cents per unit, which includes one flow-through common share and one transferable non-flow-through common share purchase warrant [2]. - Each warrant is exercisable for the purchase of one additional common share at a price of $0.05 per share for a period of 24 months [2]. Group 2: Use of Proceeds - Proceeds from the sale will be used for incurring flow-through expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures as defined in the Income Tax Act (Canada) [3]. - The funds will specifically be allocated to the Company's properties in British Columbia [3]. Group 3: Additional Information - The company paid cash finder's fees totaling $16,200 and issued 462,857 warrants at $0.05 to the finders, with the warrants also being exercisable for a 24-month period [4]. - All issued securities are subject to a statutory hold period of four months, expiring on October 14, 2025 [3].
Decade Resources Closes Oversubscribed Flow Through Private Placement for Total Gross Proceeds of $308,500