In the past week, Quadro Resources Ltd (OTCMKTS:QDROF) has seen its stock go through a pretty tough time considering the fact that it has declined by as much as 14% during the period. In this context, it may be a good idea for investors to take a look at the announcement from the company back on December 31, 2021.
Market Action
On Friday, QDROF stock jumped 2.56% to $0.0360 with 20k shares, compared to its average volume of 24K shares. The stock has moved within a range of $0.0356 – 0.0360 after opening trade at $0.0360.
Quadro Closes Private Placement
The company announced at the time that it had managed to raise as much as $456,200 in the form of gross proceeds by of a private placement financing. Quadro Resources offered flow through units and hard dollar units in that particular private placement.
In this regard, it should be noted that the company managed to bring in as much as $183,000 after closing the sale of a total of 3,660,000 units. Each unit, which was priced at $0.05, was made up of one common share in Quadro and one common share warrant.
A holder of one full warrant is going to be entitled to pick up a share in the company for $0.10 up until 24 months since the day of the closing of the placement. At this point, it remains to be seen if there is a rebound in the stock this week.
Traders Note
QDROF stock is trading below the 20-Day and 50-Day Moving averages of $0.0370 and $0.0466. Moreover, the stock is trading is the oversold zone with RSI stands at 44. The stock is down 10% over the past month.
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