Quadra Mining Ltd.
TSX : QUA

Quadra Mining Ltd.

April 16, 2009 09:00 ET

Quadra Mining Ltd. Closes $86,629,500 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2009) -

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

Quadra Mining Ltd. (TSX:QUA) ("Quadra" or the "Company") announces that it has closed its offering of 18,630,000 common shares, which includes the common shares issued by the Company pursuant to an overallotment option exercised by the underwriters, at a price of CDN $4.65 per share for total gross proceeds of CDN $86,629,500. The shares were sold on a bought deal basis with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd., and including Raymond James Ltd., BMO Capital Markets, GMP Securities L.P. and Paradigm Capital Inc.

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:

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 Mine in Arizona, the Sierra Gorda advanced exploration copper-molybdenum project in Chile and the Malmbjerg molybdenum development project in Greenland. Quadra recently acquired all of the issued and outstanding common shares of Centenario Copper Corporation, whose principal asset is the Franke SX/EW, heap leach project in northern Chile. 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
    President & CEO
    (705) 444-1316
    Website: www.quadramining.com