Date Closed

May 19, 2009

Lead Office

Vancouver

Value

37.50 Million USD

On May 19, 2009, Quadra Mining Ltd. closed a $37.5 million US syndicated project loan facility for the development of its recently acquired Franke project. On closing the loan, the Company drew the full $30 million US term loan component of the facility. The $7.5 million US working capital facility is expected to be drawn down in the near future. The term loan will bear interest at LIBOR plus 5.75% (LIBOR + 6.75% for the working capital facility) with semi-annual principal repayments commencing in March 2010, and a final maturity date in March 2014. The loan also includes a 67% cash flow sweep by the lender, a parent company guarantee until economic completion, and other terms, conditions and covenants customarily associated with project finance facilities.

McCarthy Tétrault advised Quadra with a team that was led by Linda Brown.