Quadra Mining Preliminary Prospectus Report Filed

Quadra Mining Ltd. announced the filing of a preliminary short form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with a proposed public offering of common shares of approximately $45 million.

How is this news you may ask? It continues...

Quadra intends to use the proceeds from the offering to repay the bridge facility entered into in connection with the recently announced acquisition of the Carlota Copper Project, to fund a portion of the deferred portion of the purchase price for Carlota, to fund engineering, design and development activities at the Carlota Project, to fund exploration activities on the Company's properties and for general corporate purposes. This announcement is not an offer of securities for sale in the United States. No securities have been registered under the U.S. Securities Act to be offered for sale in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act 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.


This is good news for Globe-Miami and the surrounding areas, as they want to start-up very quickly.