Proceeds used for exploration; equity units include two-year warrants
By Devika Patel
Knoxville, Tenn., Dec. 23 - Decade Resources Ltd. said it settled a C$1.35 million private placement of units. The deal priced for C$2 million Nov. 25 and was conducted on a best-efforts basis.
The company sold 13.5 million units of one flow-through common share and one half-share warrant at C$0.10 per unit. Each whole two-year warrant is exercisable at C$0.15.
The strike price is a 15.39% premium to C$0.13, the Nov. 24 closing share price.
Proceeds will be used for exploration.
The resource explorer is based in Vancouver, B.C.
| Issuer: | Decade Resources Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.35 million
|
| Units: | 13.5 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: DEC
|
| Stock price: | C$0.11 at close Nov. 25
|
| Market capitalization: | C$4.82 million
|
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