VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/07/10 -- Decade Resources Ltd. (the "Company") (TSX VENTURE: DEC) is pleased to announce it has received TSX Venture Exchange approval for and closed a private placement to raise $750,000 (previously announced in the Company's news release dated November 22, 2010). The private placement consisted of 2,500,000 flow-through units, at a price of $0.30 per flow-through unit to raise total proceeds of $750,000.
All of the shares and warrants, and any shares issued upon the exercise of the warrants comprising the units issued, are subject to a hold period and may not be traded in Canada until April 7, 2011, except as permitted by applicable Canadian securities laws.
Finders' fees of $42,000 were paid in connection with the private placement.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Bowering, Chief Financial Officer/Director
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.
Decade Resources Ltd.
Chief Financial Officer/Director
(250) 636-9233 (FAX)