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Queen's Road Capital Announces Completion of Private Placement
Hong Kong, Hong Kong--(Newsfile Corp. - February 18, 2020) - 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 Private PlacementHong Kong, Hong Kong--(Newsfile Corp. - February 18, 2020) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the \"Company\" or \"Queen's Road Capital\") is pleased to announce that it has completed the previously announced private placement of 132,615,753 shares at a share price of $0.40 per share for gross proceeds of $53,046,301. The shares sold in the placement are subject to a four-month resale restriction which expires on 19 June 2020.Queen's Road Capital has raised a total of approximately $84,000,000 since completing its change of business transaction on 3 February 2020. These funds will be used for investment and for general corporate purposes. The Company has granted 14,500,000 incentive stock options to certain directors, officers and consultants. The options have an exercise price of $0.55 per share and a term of 5 years.Queen's Road Capital intends to become 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. It is intended that the Company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in 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 Caution Regarding Forward Looking StatementsCertain statements in this News Release, which are not historical in nature, constitute \"forward looking statements\" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual result...