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Queen's Road Capital Announces Completion of Oversubscribed C$100 Million Private Placement
Hong Kong, Hong Kong--(Newsfile Corp. - February 28, 2022) - 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 Oversubscribed C$100 Million Private PlacementHong Kong, Hong Kong--(Newsfile Corp. - February 28, 2022) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the \"Company\" or \"QRC\") is pleased to announce that it has completed its previously announced private placement of 156,250,000 shares at a price of C$0.64 per share for gross proceeds of C$100 million. Proceeds from the private placement will be used to fund additional investments in accordance with the Company's investment policy. Finders' fees totaling C$208,480 were paid to arm's length third parties. The shares sold in the placement are subject to a four-month resale restriction which expires on June 28, 2022.Warren Gilman, Chairman & CEO, stated: \"Our C$100 million capital raise was oversubscribed due to the overwhelming support of our existing shareholders and the participation of many new shareholders. On behalf of the QRC team, we thank them for their tremendous support. I believe these funds will provide QRC with the critical mass which will engender the potential for increased portfolio diversification, liquidity, dividends and shareholder value. With significant milestones being achieved at all our existing investee companies as well as new investments to be made, QRC expects an active and exciting 2022.\"Option GrantThe Company has granted 35,500,000 incentive stock options to certain directors, officers and consultants. The options have an exercise price of $0.64 per share and a term of 5 years.About Queen's Road CapitalQueen's Road Capital is a dividend paying, 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) accepts responsibility for the adequacy or accuracy of this release.FOR FURTHER INFORMATION, visit the Company's website at www.queensrdcapital.com or contact by email [email protected] or phone +1 604 365 6681 Cau...