- TRU Precious Metals exercises Initial Option to acquire 51% interest in Staghorn Property.
- TRU now has a 30-day period to decide on an additional 14% interest under the Additional Option.
- Quadro Resources holds a 49% interest post-transaction and looks forward to further development.
Quadro Resources Ltd. (OTC: QDROF) has announced that TRU Precious Metals Corp. has exercised its Initial Option under their existing agreement, acquiring a 51% undivided interest in the Staghorn Property located in Newfoundland and Labrador. This acquisition marks a significant milestone, as per the satisfaction of conditions laid out in Sections 3.1 and 3.2 of their June 15, 2022, Option Agreement.
Following this development, TRU Precious Metals has a 30-day window to decide on exercising an Additional Option. If exercised, this would enable TRU to gain an additional 14% interest in the Staghorn Property, further enhancing their stake in the project. Quadro Resources currently retains a 49% interest and is optimistic about the next phase of exploration and development.
T. Barry Coughlan, President and CEO of Quadro Resources, expressed satisfaction with TRU's advancements, highlighting the potential for further exploration and development activities. This collaboration is expected to unlock additional potential value and bolster resource development on the property.
