Quadro Announces Private Placement of up to $500,000 To Develop its Staghorn and Long Lake Properties
Vancouver, B.C. December 13, 2019. Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV:QRO) announces that, subject to regulatory approvals, it will conduct a non-brokered private placement of up to 2,500,000 units (the “Units”), each Unit priced at $0.05 and consisting of 1 common share of the Company and 1 common share purchase warrant (the “Unit Warrants”), each Unit Warrant being exercisable for an additional common share of the Company at $0.05 for 12 months from closing and up to 7,500,000 flow-through units (the “FT Units”), each FT Unit priced at $0.05 and consisting of 1 flow-through share and 1 common share purchase warrant (the “FT Unit Warrants”), each FT Unit Warrant being exercisable at $0.05 for a common share of the Company at $0.05 for 12 months, to raise proceeds of up to $500,000. Proceeds from the financing will be used to explore and develop the Company’s Staghorn and Long Lake properties. (See the news release dated November 28, 2019, for further details.). Finder’s fees on the financing may be paid in accordance with TSX Venture Exchange policies.