Quadra Announces Modifications to Proposed Rights Plan
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/11/10 -- Quadra Mining Ltd. (the 'Company' or 'Quadra') (TSX: QUA) announces that it has made slight amendments to its Shareholder Rights Plan in order to secure support of RiskMetrics. RiskMetrics, a self-regulatory organization that provides advice regarding voting on various public company initiatives, had published a report to its subscribers advising that the Shareholder Rights Plan, as previously submitted by Quadra for shareholder approval, be rejected due to a number of technicalities.
Quadra studied the RiskMetrics recommendations and determined that the changes necessary to comply were acceptable without affecting the substance of the Plan as proposed.
As a result of Quadra agreeing to make the complying changes, RiskMetrics has changed its recommendation to its subscribers to vote 'FOR' the approval of the revised Shareholder Rights Plan.
A copy of the changes to the Shareholder Rights Plan is available on the Company's website www.quadramining.com or directly from the Company.
The Annual and Special Meeting of the shareholders of Quadra Mining Ltd. is to be held on Wednesday, May 19th, 2010 at 10:00 am (ET) at The Fairmont Royal York, 100 Front Street West, Toronto, Ontario in the British Columbia Room.
In order for their votes to be counted at the meeting, shareholders must vote their proxy by no later than May 17th, 2010 at 10 a.m. (EDT). Shareholders who require assistance in voting their proxy may direct their inquiry to FNX's proxy solicitation agent, Kingsdale Shareholder Services: Telephone: 1-866-581-0506 or Email: contactus@kingsdaleshareholder.com.
Visit Quadra's Website: www.quadramining.com
Contacts:
Quadra Mining Ltd. - Media & Investor Contact
Derek White
(604) 689-8550, Ext. 307
dw@quadramining.com
Quadra Mining Ltd. - Media & Investor Contact
Sophie Taylor
(604) 689 8550, Ext 310
sophietaylor@quadramining.com
www.quadramining.com