Quadra Mining Ltd.
TSX : QUA

Quadra Mining Ltd.

June 08, 2007 11:20 ET

Quadra Mining Ltd. Extends Offer for International Molybdenum plc

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OR THE UNITED KINGDOM.

Quadra Mining Ltd. (TSX:QUA) ("Quadra" or the "Company") announces that its Offers for the issued share capital and traded warrants of International Molybdenum plc ("InterMoly") have been extended beyond 12 June, 2007 (the Second Closing Date) and will remain open for acceptance until 3:00 p.m. (London time) on 22 June, 2007. No further extension of the Offers will be made and the Offers will accordingly close at that time.

The Offers were declared unconditional in all respects on 14 May, 2007.

The admission of InterMoly to the AIM Market of the London Stock Exchange is expected to be cancelled at the close of business on 25 June, 2007 and that trading in the InterMoly Shares and InterMoly Warrants will cease at that time.

As at 5:00 p.m. (London time) on 7 June, 2007, valid acceptances of the Offers had been received in respect of 111,956,488 InterMoly Shares and 10,936,908 InterMoly Warrants, representing approximately 81.8 percent of the InterMoly Shares and 78 per cent. of the InterMoly Warrants. This includes acceptances in respect of 106,666,700 InterMoly Shares (representing approximately 78 percent of the InterMoly Shares) and 3,333,350 InterMoly Warrants (representing approximately 25 percent of the InterMoly Warrants) which were received pursuant to an irrevocable undertaking to accept the Offers received from Galahad Gold plc.

Neither Quadra nor any party deemed to be acting in concert with Quadra held any InterMoly Shares or InterMoly Warrants or rights over such shares or warrants before 8 March, 2007, the first day of the Offer Period, nor have they acquired or agreed to acquire any InterMoly Shares or InterMoly Warrants or rights over such shares or warrants since the commencement of the Offer Period except pursuant to the Offers.

About Quadra Mining Ltd. (TSX:QUA)

Quadra is a British Columbia corporation based in Vancouver and is a copper producing company whose principal asset is the Robinson Mine in Nevada. The Company has the objective of becoming a multi-asset base metals development and operating company with interests in a number of advanced exploration, development and producing properties.

Contact Information

  • Quadra Mining Ltd.
    Paul Blythe
    (604) 689-8550
    or
    International Molybdenum plc
    Morris Beattie
    (604) 644-8244
    or
    Standard Bank Plc
    Thys Terblanche
    Financial Adviser to Quadra Mining Ltd.
    +44 (0)20 7815 4303
    or
    Matrix Corporate Capital LLP
    Ken Vere Nicoll
    Financial Adviser to International Molybdenum plc
    + 44 (0)20 7925 3300
    or
    Matrix Corporate Capital LLP
    Alastair Stratton
    Financial Adviser to International Molybdenum plc
    + 44 (0)20 7925 3300