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Queen's Road Capital Announces Completion of Los Andes Investment
Hong Kong, Hong Kong--(Newsfile Corp. - June 3, 2021) - Queen's Road Capital Investment Ltd. ...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Queen's Road Capital Announces Completion of Los Andes InvestmentHong Kong, Hong Kong--(Newsfile Corp. - June 3, 2021) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the \"Company\" or \"Queen's Road Capital\") is pleased to announce that it has completed its previously-announced US$5,000,000 investment in Los Andes Copper Ltd. (\"Los Andes\").Queen's Road Capital now holds US$5,000,000 aggregate principal amount of unsecured convertible debentures. The debentures have a 5-year term and carry an 8.0% annual coupon, payable quarterly. The debentures are convertible at the Company's option into common shares of Los Andes at a conversion price of C$10.82 per share.Since its creation in January 2020, Queen's Road Capital has invested over US$60 million in resource companies, including US$30 million in NexGen Energy Ltd., US$20 million in Adriatic Metals Plc, US$6 million in IsoEnergy Ltd. and US$5 million in Los Andes Copper Ltd. With the completion of this investment, Queen's Road Capital continues to be well funded with no debt, a portfolio of income generating convertible debentures and an equity portfolio with a market value which exceeds US$60 million.Commenting on the completion of Queen's Road Capital's latest investment, Warren Gilman, Chairman & CEO, stated: \"We are delighted to further diversify our exposure to the highest quality orebodies to now include copper in addition to our existing uranium and silver investments. It is fitting that our latest investment is announced at the same time that our largest investment, NexGen Energy Ltd., has reached new record highs of over C$6.00/share. Queen's Road Capital's investment portfolio has generated substantial unrealized gains since our establishment last year and we will continue to build on these successes.\"Queen's Road Capital is a leading financier to the global resource sector. The Company is a resource focused investment company, making investments in privately held and publicly traded resource companies. The Company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) ...