Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Quadro Resources ( (TSE:QRO) ) has shared an announcement.
Quadro Resources Ltd. has detailed its planned use of proceeds from a $0.035 per unit private placement financing, allocating approximately $175,129 to general working capital and $66,346 to fund its share of the Quadro‑TRU Precious Metals joint venture on the Staghorn gold property in Newfoundland and Labrador. Subject to TSX Venture Exchange approval, the company will issue 7,214,286 units, each comprising one common share and one warrant exercisable at $0.06 for 24 months, and will pay $11,025 in cash finders’ fees alongside 315,000 non-transferable broker warrants on similar terms, with all securities subject to a four‑month plus one day hold period, bolstering Quadro’s liquidity and supporting ongoing exploration activities in its key Cape Ray Fault assets.
More about Quadro Resources
Quadro Resources Ltd. is a publicly traded mineral exploration company focused on gold exploration in North America, listed on the TSX Venture Exchange under the symbol QRO and the Frankfurt Stock Exchange under G4O. The company holds a 49% interest in the Staghorn property in joint venture with TRU Precious Metals Corp., which owns 51%, and maintains full ownership of the Long Lake property; both projects are situated along the Cape Ray Fault in Newfoundland and Labrador and together form the core of Quadro’s exploration portfolio.
Average Trading Volume: 29,073
Technical Sentiment Signal: Sell
Current Market Cap: C$997.9K
For detailed information about QRO stock, go to TipRanks’ Stock Analysis page.