Group 1 - Decade Resources Ltd. has successfully closed a private placement, raising total gross proceeds of $255,000 [1][2] - A total of 8,500,000 units were issued at a price of 3 cents per unit, with each unit consisting of one common share and one transferable common share purchase warrant [2] - The warrants are exercisable for the purchase of one additional common share at a price of $0.05 per share for a period of 5 years [2] Group 2 - The majority of the proceeds from the private placement will be allocated for general working capital purposes, with more than 10% potentially directed towards exploration on BC Properties [3] - None of the proceeds will be used for payments to non-arm's-length parties, except for normal compensation of officers, directors, employees, and consultants [3] Group 3 - All issued securities are subject to a statutory hold period of four months, expiring on January 17, 2026 [4] - The company paid a cash finder's fee of $20,400 and issued 680,000 warrants with a 2-year term at $0.05 to a finder for introducing subscribers to the private placement [4]
Decade Resources Closes Private Placement for Total Gross Proceeds of $255,000