Quia Resources sees listing in the month -bankers

* Junior miner in process of raising C$3 million

* Listing follows Yamana purchase of C$2 mln stake

* Colombia gold exploration booming

TORONTO, Nov 8 (BestGrowthStock) – Quia Resources, a junior
Canadian miner exploring for gold in Colombia, aims to complete
a reverse takeover within a month, making it a publicly traded
company with a C$30 million ($30 million) market
capitalization, bankers said on Monday.

After a cash injection from Yamana Gold Inc (YRI.TO: ), one
of Canada’s larger gold miners, Quia expects the listing to
bring it exposure to a wider pool of investors as it begins
drilling on its San Lucas property.

Drilling will focus on zones on the 7,000 hectare property
that have shown some promise, some of them over old artisanal
gold mines.

“That is the catalyst that will drive Quia,” said Jeremy
Goldman, president and founder of Foundation Markets, a
Toronto-based boutique merchant and investment bank.

“With this transaction we will have a whole new category of
investors to talk to.”

Under a reverse takeover a private company – in this case
Quia – takes over a public shell company – in this case Onsino
Capital Corp (OSh.V: ), a capital pool company.

The process, which eliminates the need for an initial
public offering, will give Quia a listing on the TSX Venture

Quia hopes to follow in the footsteps of other companies
that are exploring for gold in Colombia and have won investor
interest after going public in Toronto. The list of names
include Ventana Gold (VEN.TO: ), Greystar Resources (GSL.TO: ),
B2Gold (BTO.TO: ) and Medoro Resources (MRS.TO: ).

Few of those companies are in production, but all hope to
make the next great discovery in Colombia, which is becoming a
magnet for new mining investment as its image as a center for
drug violence fades.

Quia is also in the process of raising C$3 million in a
financing led by Foundation and Canaccord Genuity (CF.TO: ),
selling shares at 50 cents each.

“A number of funds and individuals have already indicated
orders to us,” said Yannis Banks, managing director at
Foundation Markets.

The company’s first financing came in the fall of 2007,
when it raised C$200,000 by selling shares at 10 Canadian cents
each. It raised C$2.8 million at 25 Canadian cents a share in
the spring of 2008, C$750,000 at 30 Canadian cents in 2009 and
C$3 million in early 2010, also at 30 Canadian cents.

Yamana, a Canadian gold producer with operations in Brazil,
Chile and Argentina, bought its C$2 million stake in Quia at 40
cents a share in a transaction reported last week.

Yamana also recently acquired an exploration concession and
a project called Solferino located in the district of Anori, in
the province of Antioquia in central Colombia.

($1=$1.00 Canadian)
(Reporting by Pav Jordan; editing by Frank McGurty)

Quia Resources sees listing in the month -bankers