Quadro Resources Raises $252,500 in Private Placement to Advance Cape Ray Fault Exploration

Quadro Resources ( (TSE:QRO) ) has shared an announcement.

Quadro Resources has closed a private placement financing at $0.035 per unit, raising gross proceeds of $252,500 through the issuance of 7,214,286 units, each comprising one common share and one warrant exercisable at $0.06 for 24 months. An insider participated for $35,000, triggering related-party transaction rules, while the company paid $11,025 in cash finders’ fees and issued 315,000 broker warrants; the funds will primarily support general working capital and Quadro’s funding obligations in its Staghorn joint venture, bolstering its ability to advance exploration along the Cape Ray Fault.

More about Quadro Resources

Quadro Resources Ltd. is a publicly traded mineral exploration company listed on the TSX Venture Exchange under the symbol QRO, with approximately 28.5 million shares outstanding. The company focuses on gold exploration in North America and holds a 49% interest in the Staghorn property in joint venture with TRU Precious Metals Corp., as well as 100% ownership of the Long Lake property. Both projects are situated along Newfoundland and Labrador’s Cape Ray Fault, a recognized gold-bearing trend.

Average Trading Volume: 31,704

Technical Sentiment Signal: Sell

Current Market Cap: C$997.9K

Find detailed analytics on QRO stock on TipRanks’ Stock Analysis page.