Quadro Provides Clairty to Shareholders
1400 – 1040 West Georgia Street Vancouver, B.C. V6E 4H1 Tel (604) 644-9561
QUADRO PROVIDES CLAIRTY TO SHAREHOLDERS
Vancouver, B.C., March 21, 2024. Quadro Resources Ltd. (“Quadro” or the “Company”)
(TSXV: QRO, OTC Pink: QDROF, FSE: G4O) announces that, further to its Management
Information Circular (the “Circular”) prepared and sent to shareholders in May 2023, and the July 31,
2023 Audited Annual Financial Statements, filed on SEDAR+ November 28, 2023, the Company is
providing further clarification of information provided and, in certain circumstances, providing
information omitted in error.
Summary Compensation Table
1. Below is the updated Summary Compensation Table for the Named Executive Officers of the
Company. Stock Options were issued in fiscal 2021, not fiscal 2022 as previously disclosed.
SUMMARY COMPENSATION TABLE
NOTES:
(1) Payments are made to TBC Ventures Ltd., a company 100% owned by T. Barry Coughlan, pursuant to an
agreement between the Company and TBC Ventures Ltd. (see "Management Contracts" in this Information
Circular).
Management and Change of Control Contracts
2. There are management contracts with TBC Ventures Ltd. (Barry Coughlan, Director, President, CEO), and
Thomas Wilson (Director, CFO), which were signed in January 2020, and which automatically renew on a monthly
basis. There are also change of control contracts with both parties dated January 1, 2020.
NEO
Name and
Principal
Position
(a)
Annual Compensation Long Term Compensation
Year
(b)
Salary
($)
(c)
Bonus
($)
(d)
Other
Annual
Compensatio
n ($)
(e)
Awards Payouts
All other
Compen-
sation
($)
(i)
Securities
Under
Options/
SARs
Granted
(#)
(f)
Shares
or
Units Subject
to Resale
Restrictions
($)
(g)
LTIP
Payouts
($)
(h)
T. Barry Coughlan
President, CEO &
Director(1)
2022 96,000 Nil Nil Nil Nil Nil Nil
2021 96,000 Nil Nil 295,000 Nil Nil Nil
2020 74,000 Nil Nil Nil Nil Nil Nil
Thomas R. Wilson
CFO & Director
2022 42,000 Nil Nil Nil Nil Nil Nil
2021 54,000 Nil Nil 100,000 Nil Nil Nil
2020 23,200 Nil Nil Nil Nil Nil Nil
1400 – 1040 West Georgia Street Vancouver, B.C. V6E 4H1 Tel (604) 644-9561
Availability of Audit Committee Charter
3. The Company’s Audit Committee Charter is available for any shareholders who wish to review
it.
Identify Related Parties
4. The following information is provided in relation to the management fees and consulting fees
as mentioned under Note 9 Related Party Transactions of the audited financial statements as of
July 31, 2023:
9(d) Wayne Reid (through his company Eastrock Exploration Inc.), VP Exploration.
Services were previously booked to geological consulting (point 9 (c)) but reclassed to
management services due to a more management focused role rather than geological.
9(e) Pieter Bakker, director as of 2023 AGM.
Individual Bankruptcies
5. Within the last ten years prior to the date of the Circular, Thomas Wilson, CFO and proposed
director, entered into a plan of arrangement. He informed the Institute of Chartered
Accountants of BC; he and the trustee both confirmed the balance of the consumer proposal
has been paid. The Compliance Department of the TSX Venture Exchange completed a review
and, notwithstanding his late PIF application, consented to Mr. Wilson serving as a Director for
the Company. The amount was fully paid on November 4, 2022.
About Quadro Resources – Quadro is a publicly traded mineral exploration company with
approximately 28.5 million shares issued and outstanding, of which management and advisors hold
approximately 25%. It is focused on exploring for gold in North America. The Company’s shares
trade on the TSX Venture Exchange under the symbol “QRO”. Quadro owns a 100% interest in the
Staghorn property, which it has optioned to TRU Precious Metals Corp.; owns a 100% interest in the
Long Lake property; and has an option to earn an initial 51% interest in the Tulks South Property, in
Newfoundland.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlan”
President and CEO
Tel (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." For more information on
the Company, interested parties should review the Company's filings that are available at www.sedarplus.ca.