Quadro Announces Rollback
Vancouver, B.C., November 18, 2022. Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV: QRO, FRA: G4O2) announces that effective Tuesday November 22, 2022 the common shares of the Company will trade on the TSX Venture Exchange on a consolidated basis of 1 (one) post-consolidation share for every 3 (three) pre-consolidation shares (the “Consolidation”).
The Board of Directors believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the Consolidation.
The Company currently has 83,534,774 common shares issued and outstanding; following the Consolidation the Company will have approximately 27,844,925 common shares issued and outstanding, and will continue to trade under the existing stock symbol “QRO.V”.
The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms. No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded down or up to the nearest whole number.
ABOUT QUADRO RESOURCES
Quadro is a publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in North America. The Company’s shares trade on the TSX Venture Exchange under the symbol “QRO”. Quadro owns a 100% interest in the Staghorn property, which it has optioned to TRU Precious Metals Corp., has an option to earn a 100% interest in the Long Lake and Careless Cove properties, and has an option to earn an initial 51% interest in the Tulks South Property, in Newfoundland.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlan”
President and CEO
Tel (604) 644-9561
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.