Quadro Announces Approval of Option to Acquire Staghorn Property, Shares Fo R Debt, and Qualifies FOR Graduation to Tier 2 of the TSX Venture Exchange
1500 – 1040 West Georgia Street Vancouver, B.C. V6E 4H1 Tel (604) 683 -3331 Fax (604) 685 -8677
QUADRO ANNOUNCES APPROVAL OF OPTION TO ACQUIRE
STAGHORN PROPERTY, SHARES FO R DEBT, AND QUALIFIES FOR
GRADUATION TO TIER 2 OF THE TSX VENTURE EXCHANGE
Vancouver, B.C. October 12, 2017. Further to its August 21, 2017 news release, Quadro
Resources Ltd. (“Quadro” or the “Company”) (“NEX QRO.H) is pleased to announce that the
TSX Venture Exchange has accepted for filing the option agreement (the “Option
Agreement”) with Metals Creek Resources Corp. (TSXV: MEK ) (“Metals Creek”) and Benton
Resources Inc. (TSXV: BEX) (“Benton”) (see Quadro’s news release dated June 6, 2017)
whereby Quadro will be provided with an option to acquire a 100% interest in Metals Creek’s
and Benton’s Staghorn property, located in Newfoundland, and all rights to their newly
optioned Rose Gold property (the Rose Gold property is contiguous with the northern border
of the Staghorn property, and is further described in Metals Creek’s press release of April 12,
2017) (collectively the “Option”). Under the terms of the Option Agreement Quadro will be
issuing 4,000,000 common shares to each of Benton and Metals Creek . Quadro has
assumed all of Metals Creek’s and Benton’s obligations under the Rose Gold property option,
and will be issuing 450,000 common shares to Shawn Rose.
The Option Agreement will be subject to 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 Metals Creek/Benton Royalty represents a 3km area of interest that is subject to
a 3% NSR in favour of Metals Creek/Benton, 2% of which can be purchased at any
time for $2 million;
• The Northcott/Lushman Royalty represents a 3km area of interest that is subject to: (i)
a 2% NSR in favour of Ed Northcott and Gilbert Lush man, 1% of which can be
purchased at any time for $1 million; and (ii) a 1% NSR in favour of Metals
Creek/Benton; and
• The Rose Royalty the together with a 1km area of interest is subject to: (i) a 2% NSR
in favour of Shawn Rose, 1% of which can be purchased at any time for $1 million;
and (ii) a 1% NSR in favour of Metals Creek/Benton.
Barry Coughlan, President and CEO of Quadro “Management believes that the Staghorn and
Rose Gold projects are among the most prospective properties in the region with excell ent
geology, multiple new gold zones and large land holdings in a very active area where other
explorers such as Marathon Gold Corp., Antler Gold Inc. and Torq Resources Inc. have
completed extensive exploration efforts with tremendous early success".
Quadro further announces that it has settled $206,550 in debt at $0.10 per share and will be
issuing 2,065,500 common shares to TBC Consultants Ltd., a creditor of the Company.
Quadro has been advised by the TSX Venture Exchange (the “Exchange”) that by completing
the above-noted transactions, and closing the $1.4 million private placement financing (see
1500 – 1040 West Georgia Street Vancouver, B.C. V6E 4H1 Tel (604) 683 -3331 Fax (604) 685 -8677
the Company’s news release dated October 5, 2017), the Company qualifies for graduation
from NEX to Tier 2 of the Exchange as a Mining Issuer.
Closing of the proposed transactions is subject to the TSXV acceptance of a filing required to
be made in respect of the Option, the Consolidation, the Debt Settlement and all other
necessary regulatory approvals and acceptances, as well as the other conditions precedent.
ON BEHALF OF THE BOARD OF DIRECTORS
T. Barry Coughlan, CEO
For further information, please contact:
T. Barry Coughlan
Telephone: 604.644-9561
"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 www.sedar.com.