Quadra Mining Closes $87M Financing

On April 16, 2009, Quadra Mining Ltd. closed its offering of 18,630,000 common shares, which includes the common shares issued by Quadra pursuant to an over-allotment option exercised by the underwriters, at a price of $4.65 per share for total gross proceeds of $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.

Andrew McLeod, Susan Tomaine and Sarah Pybus of Blake, Cassels & Graydon LLP acted for Quadra.

Cassels Brock & Blackwell LLP acted for the underwriters with a team that included Mark Bennett and Jennifer Traub (mining and securities) and Sean Maniaci and Alexander Pizale (securities).