Quadra Mining Ltd.
TSX : QUA

Quadra Mining Ltd.

July 08, 2008 11:05 ET

Quadra Mining Ltd. Announces Over-Allotment Option Exercised for Recently Announced Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) -

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

Quadra Mining Ltd. (TSX:QUA) ("Quadra" or the "Company") is pleased to announce the closing today of an additional 821,750 common shares issued at a price of $24.50 per share, for gross proceeds of $20,132,875 pursuant to the exercise of the over-allotment option (the "Over-Allotment Option") granted by the Company to a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Raymond James Ltd., BMO Capital Markets, Cormark Securities Inc. and GMP Securities L.P. (collectively, the "Underwriters"). The Over-Allotment Option was granted to the Underwriters in connection with the Company's public offering of 7,145,000 common shares at a price of $24.50 per share (the "Offering") which closed on June 5, 2008. The total gross proceeds raised pursuant to the Offering and the Over-Allotment Option was $195,185,375.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Quadra and that will contain detailed information about Quadra and management, as well as financial statements.

About Quadra Mining Ltd. (TSX:QUA)

Quadra is a British Columbia corporation based in Vancouver and is a mining company whose principal assets are the Robinson Mine in Nevada, producing copper and gold, the Carlota copper leach project under construction in Arizona, the Sierra Gorda advanced exploration copper-molybdenum project in Chile and the Malmbjerg molybdenum development project in Greenland. The Company has the goal of becoming a mid-tier base metals development and operating company with interests in a number of advanced exploration, development and producing properties.

Contact Information

  • Quadra Mining Ltd.
    Sophie Taylor
    Manager, Investor Relations
    (604) 689-8550
    or
    Quadra Mining Ltd.
    Paul Blythe
    CEO
    (705) 444-1316