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Message: Closes $86,629,500 Financing

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Closes $86,629,500 Financing

posted on Apr 16, 09 07:12AM

April 16, 2009

Quadra Mining Ltd. Closes $86,629,500 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Quadra Mining Ltd. (TSX:QUA) ("Quadra" or the "Company") announces that it has closed its offering of 18,630,000 common shares, which includes the common shares issued by the Company pursuant to an overallotment option exercised by the underwriters, at a price of CDN $4.65 per share for total gross proceeds of CDN $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.

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