Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 

Investorideas podcasts on iTunes, Google Play Music and potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts crypto corner    Play by Play – the latest sports headlines and sports stock news


Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

Quadro (TSXV: $OS.V) Receives Conditional Approval for NEX Reactivation and Conditional Approval to Acquire Staghorn and Rose Properties


Vancouver, British Columbia - August 21, 2017 (Newsfile Corp.) ( Newswire) Quadro Resources Ltd. (TSXV: OS) ("Quadro" or "the Company") is pleased to announce the conditional acceptance of its reactivation from the NEX board to the TSX Venture Exchange (the "Reactivation") and the conditional acceptance of the option to acquire a 100% interest in the interest of Benton Resources Inc. ("Benton") and Metals Creek Resources Corp. ("Metals Creek") in the Staghorn property, located in Newfoundland and an assignment of Benton's and Metal Creek's rights to acquire the newly optioned Rose Gold property (the "Option") pursuant to the terms of the option agreement Quadro has with Benton and Metals Creek (the "Quadro Option Agreement"). The Rose Gold property is contiguous with the northern border of the Staghorn property, and is further described in the Company's press release of April 12, 2017.

Final acceptance of the Reactivation is subject to Quadro: obtaining final acceptance of the Option; settling approximately $225,000 in debt by the issuance of shares at $0.10 per share; and completing a financing of up to $2 million.

Under the terms of the Quadro Option Agreement Quadro is required to: complete a 2:1 share consolidation (completed); settle approximately $225,000 of debt by the issuance of $0.10 shares (acceptance pending); issue 4,000,000 common shares (post-consolidation) to each of Metals Creek and Benton (pending) and complete a financing of up to $2 million (pending). Quadro must also assume all the obligations under the Rose Gold property option, for which the optionor of the Rose Gold property has agreed to accept common shares of Quadro in lieu of the 225,000 common shares of Metals Creek and 225,000 common shares of Benton (450,000 shares combined) originally negotiated. The Quadro Option Agreement also provides for a royalty to be granted in favor of Metals Creek and Benton (the "Metals Creek/Benton Royalty"), as well as existing royalties held by Ed Northcott and Gilbert Lushman (the "Northcott/Lushman Royalty"), and by Shawn Rose (the "Rose Royalty"), all as outlined below.

The Staghorn project has multiple gold showings along the Cape Ray Fault approximately 30km SW along strike of Marathons Gold's Newfoundland deposits. The Staghorn project known zones include the Woods lake zone, drilling of 6.18 grams per ton (gpt) gold (Au) over 5.11 meters (m), (see MEK news release 02 Dec 2009), Ryan's Hammer, 27.80gpt Au in grabs, (see MEK/BEX news release 05 September 2015), Glimmer, 196.7gpt Au in grabs, (see MEK news release 11 May 2010), Rich House, visible gold - 189gpt Au in grabs (see MEK/BEX news release 01 September 2015) and the new Rose discovery of up to 18.86 gpt Au in the Rose Zone (see MEK/BEX news release 12 April 2017). The funds raised will be used to advance the project immediately and for general working capital.

Figure 1: Northcott/Lushman Royalty Map

Wayne Reid, P.Geo, a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.


T. Barry Coughlan, CEO


T.R Wilson
(604) 683-3331

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections."

For more information on the Company, interested parties should review the Company's filings that are available at

Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources - investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

Get News on Mining Stocks

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info:

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: Global investors must adhere to regulations of each country.

Please read privacy policy:

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner