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TSXV: DEC.V: $0.10
DECADE CLOSES TRANCHE 1 OF NON-BROKERED PRIVATE PLACEMENT; RAISES $2,243,750
By Decade Resources
Decade Resources Ltd. (the "Company") (TSX.V — DEC) is pleased to announce it has received TSX Venture Exchange approval for and closed Tranche 1 of a private placement to raise up to $3,500,000 (previously announced in the Company's news releases dated October 6 and November 1, 2010). Tranche 1 consisted of 5,815,000 flow-through units, at a price of $0.30 per flow-through unit and 1,997,000 non-flow-through units, at a price of $0.25 per non-flow-through unit to raise total proceeds of $2,243,750.
Tranche 2 will consist of up to 4,185,000 flow-through units, at a price of $0.30 per flow-through unit.
All of the shares and warrants, and any shares issued upon the exercise of the warrants comprising the units issued under Tranche 1, are subject to a hold period and may not be traded in Canada until March 13, 2011, except as permitted by applicable Canadian securities laws.
Finders' fees of $130,125 were paid in connection with the private placement.
"Andrew Bowering"
Andrew Bowering, Chief Financial Officer/Director
WANT TO KNOW MORE ABOUT DECADE RESOURCES?
Decade Resources
611 – 8th Street, Box 211
Stewart, BC Canada
V0T 1W0
decadeinvestorrelations@outlook.com
Gary M. Assaly
garymassaly@hotmail.com