Business
Queen's Road Capital Announces Completion of Osisko Green Investment
Hong Kong, Hong Kong--(Newsfile Corp. - September 8, 2021) - Queen's Road Capital Investment ...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Queen's Road Capital Announces Completion of Osisko Green InvestmentHong Kong, Hong Kong--(Newsfile Corp. - September 8, 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 C$21,000,000 investment in the initial public offering of Osisko Green Acquisition Ltd. (\"Osisko Green\"), a newly organized special purpose acquisition corporation sponsored by a wholly-owned subsidiary of Osisko Mining Inc.Queen's Road Capital participated as an initial Funding Investor in Osisko Green, investing alongside the sponsor, Osisko Green Sponsor Corp. (a wholly-owned subsidiary of Osisko Mining Inc.) and other founding investors including Osisko Gold Royalties Ltd. The Company now holds 665,000 Class B Shares, 913,043 Warrants and 2,000,000 Class A Restricted Voting Units (each comprising of one Class A Restricted Voting Share and one-half of one Warrant).The investment was financed by a C$21,000,000 margin loan provided by a major Canadian bank. The loan has an annual interest rate of CDOR (\"Canadian Dollar Offer Rate\") plus 4.75%. The loan is secured by some of the Company's long-term investments.Since its creation in January 2020, Queen's Road Capital has invested over US$77 million in resource companies, including US$30 million in NexGen Energy Ltd., US$20 million in Adriatic Metals Plc, C$21 million in Osisko Green, US$6 million in IsoEnergy Ltd. and US$5 million in Los Andes Copper Ltd.Commenting on the completion of Queen's Road Capital's latest investment, Warren Gilman, Chairman & CEO, stated: \"We are delighted to finalize our first investment jointly with the Osisko team and look forward to growing our partnership in the future. It is fitting that our latest investment is completed at the same time that our three largest investments, have reached new record highs, including NexGen Energy Ltd. exceeding C$7.30 per share. Queen's Road Capital's investment portfolio has generated unrealized gains in excess of US$100 million 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...